LMC, NASD sign pact on capital market
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.