Dog­ara to ring bell at NSE...

Daily Trust - - NEWS - By Musa Ab­dul­lahi Kr­ishi

The Speaker of the House of Rep­re­sen­ta­tives, Yakubu Dog­ara, will to­day (Fri­day) ring the bell at the Nige­rian Stock Ex­change (NSE) in Lagos.

The speaker will ring the bell to close ac­tiv­i­ties on the trad­ing floor, a state­ment is­sued by his spokesman, Tu­raki Has­san, said.

Dog­ara was in­vited to the NSE in recog­ni­tion of his con­tri­bu­tion and that of the House in deep­en­ing of the mar­ket through leg­is­la­tion, the state­ment added.

Dog­ara, re­cently, while declar­ing open a con­fer­ence or­gan­ised by the House’s com­mit­tee on cap­i­tal mar­ket, said that the House may pass laws to com­pel multi­na­tional oil, gas and telecom­mu­ni­ca­tions com­pa­nies do­ing busi­ness in the coun­try to list a cer­tain per­cent­age of their value on the NSE.

He stated that large com­pa­nies in the listed sec­tors must be com­pelled to list on the cap­i­tal mar­ket in order to deepen the mar­ket and make cap­i­tal avail­able for in­vestors and cre­ate em­ploy­ment.

The speaker called for se­vere sanc­tions against fraud­u­lent stock mar­ket play­ers as part of mea­sures to strengthen the coun­try’s fi­nan­cial mar­ket.

The House of Rep­re­sen­ta­tives had ini­ti­ated leg­is­la­tion to ef­fec­tively reg­u­late the stock mar­ket to en­sure the safety of in­vestors’ funds.

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