Nigeria: Bank Funding for Second Tier Firms Not in Sight

18 May 2011

Hopes that companies listed in the second-tier securities market (SSM) of the Nigerian Stock Exchange (NSE) will get financial support from banks may remain dashed unless they improve on their corporate governance and skill issues, the boss of a leading bank has said.

The SSM was created by the NSE to accommodate indigenous firms that failed to meet the listing requirements for the main board. But over the years that sector of the NSE has failed to grow due to weak patronage by investors as a result of their poor performances.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.