14 November 2017

Nigeria: SEC Urges BPE to Include Listing Clause On Privatisation Deals

Lagos — The Securities and Exchange Commission (SEC) has called on the Bureau for Public Enterprise (BPE) to consider including clauses that will ensure the listing of privatised companies on the floor of the Nigerian Stock Exchange.

Seyi Owoturo, Chief Executive Officer of united securities made the disclosure at the post-Capital market committee press briefing at the SEC office in Lagos yesterday

Owoturo said "We have called on the BPE to ensure that, for those to benefit from government patronage, preference should be given to listed companies.

The SEC Director General, Mounir Gwarzo who also seized the opportunity to update the market on the latest development on the MTN planned listing said the discussions have been progressing smoothly.

Gwarzo said "They gave us a template of what they want to operate and we have made some suggestions in that regards and I think we are on the same page with them.

"We have the enabling environment and our rules are very flexible and we are waiting on them to file the first draft and we will take it from there.

Nigeria

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