Companies delisted from NSE to deter regulatory breach – Ugorji

The Nigerian Stock Exchange (NSE) has been commended for its sustenance of strict corporate governance and ensuring strict compliance to market rules.

Vice President, Strategy & Corporate Services, FMDQ, Ms. Kaodi Ugorji gave the kudos recently in Badagry Lagos during an event with focus on boosting indigenous participation in the Nigerian capital market.

She said that Nigeria with over 180 million population, Nigeria still cannot pride of 5 per cent of the population saving in the capital market, adding that the investing population of below 2 per cent, showed that there is immense opportunity for growth of the Nigerian market.

The FMDQ Vice President said that investor confidence which would propel more local participation in the market should be driven by transparency and strict compliance to market rules, which the NSE is committed to delivering on.

She emphasised that de-listing companies from the capital market , a practice which the NSE has sustained to demonstrate that the market is transparent and committed to ethical practices, would serve as warning to other companies as it helps to protect the investing public.

“It is important that Exchanges protect prospective investors that wanted to invest in troubled companies. Delisting is something Exchanges must do to protect investors, she explained.