Nigeria: Stockbrokers Faults New Share Capital Structure

23 December 2013

The leadership of the stockbroking community comprising the Chartered Institute of Stockbrokers (CIS) and Association of Stockbroking Houses of Nigeria (ASHON) is to meet with the management of the Securities and Exchange Commission (SEC) over the new minimum capital requirements for capital market operators.

SEC had, in pursuant to Section 313(6) of the Investments and Securities Act (ISA) 2007 introduced a new capital base that raised the share capital for broker/dealer by about 389 per cent.

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