A GROUP, Capital Market Solicitors Association, CMSA, has announced the launch of a report aimed at protecting the Nigerian capital market.
The group, led by Mr. Uche Val Obi, said the exercise, jointly with the law society of England and Wells, was in a show of solidarity to the Nigerian Stock Exchange, NSE, and dealing members, in a bid to align with the laudable objectives and various initiatives aimed at the development of the capital market.
Obi said at the launch in Lagos on Friday that “We examined our structures, rules and practices and tried to align them with what is obtainable in the best and most developed market.” The report was launched less than a fortnight ago by the former Lord Mayor of the city of London and the President of the NSE who are co-chairs to this initiative.
“The report, which is aimed to enhance visibility of the NSE internationally and encourage the facilitation of capital flows across jurisdictions, has the interest and support of the foreign and common wealth office that are eager to develop stronger ties and market across nations.
“Once our rules are aligned, foreign investors would find the environment here conducive and suitable with what they are used to, and we are most likely going to see more dual listings similar to the Seplat transaction.”
He said the association aligned with the objectives of the NSE and SEC on areas of advocacy. It also worked closely with the regulators in monitoring the market and reporting infractions and in enlightening the public of the protection and preservation of their rights for better investor protection.
The CMSA’s member is in the administrative proceedings committee of the SEC to advise on sound corporate governance imperatives as well as rule making, thereby making the goals of the exchange realised and better achieved.

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