LMC, NASD sign pact on cap­i­tal mar­ket

Daily Trust - - SPORT -

The League Man­age­ment Com­pany (LMC) and NASD OTC Se­cu­ri­ties Ex­change have signed a Mem­o­ran­dum of Un­der­stand­ing to part­ner to­wards ac­tu­al­iz­ing the list­ing of NPFL clubs in the sec­ondary cap­i­tal mar­ket.

At a well-at­tended cer­e­mony in Lagos, LMC Chair­man Shehu Dikko and Bola Ajo­male, the Man­ag­ing Direc­tor and CEO of NASD Plc signed the MoU and sep­a­rately pledged to drive their re­spec­tive or­ga­ni­za­tions to bring about the at­tain­ment of the set ob­jec­tives.

Dikko, in his re­marks said the part­ner­ship is very im­por­tant to the LMC as it “sign-posts a step to­wards realizing the vi­sion nursed by the LMC to pro­vide a strong struc­ture for the NPFL Club own­er­ship. It is a jour­ney that has been long but po­ten­tially fruit­ful for the League, the clubs, our part­ners, NASD, Cor­po­rate Nige­ria and the gen­eral foot­ball stake­hold­ers”.

Tak­ing a his­tor­i­cal look at club own­er­ship in Nige­ria, the LMC Chair­man re­called that in the late 1970’s to early 1990’s, in­di­vid­u­als and com­pa­nies dom­i­nated club own­er­ship and fund­ing list­ing the likes of Stationery Stores, Udoji United, Leven­tis United, Abi­ola Babes, Ranch­ers Bees, Ayusalam Rocks, BCC Lions, Jasper United, ACB, New Nige­rian Bank, Flash Flamin­goes and Iwuanyanwu Na­tionale and many oth­ers.

In his own re­marks, the MD/CEO of NASD Plc, Ajo­male said the part­ner­ship is sig­nif­i­cant to the ex­tent that it was bring­ing foot­ball and the busi­ness com­mu­nity to­gether for the mu­tual ben­e­fit of all par­ties.

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