chipongwe,
For an introduction and background to the Lagos (Nigerian) Stock Exchange see here:
http://www.mbendi.co.za/exch/16/p0005.htm
http://www.nigeriabusinessinfo.com/nse.htm
http://www.nigeriabusinessinfo.com/abuja-exchange.htm
For the Nigerian Stock Exchange see here:
http://www.nigerianstockexchange.com
For listing/details of stocks, registration is required (authorisation
stated as taking up to 24 hours, but said to be a free service).
For a partial list (160 of 260 listed stocks) that meets some of your
stated criteria see here:
http://www.nigeriabusinessinfo.com/listedcomps.htm
In summary, Lagos (as the former seat of colonial government) remains
the nations major economic centre, despite government attempts to move
it, to the capital (Abuja).
Besides Lagos, the Exchange has six branch offices. Trading occurs via
intranet connection (Automated Trading System (ATS) for trades &
CAPNET for information services/supervision) with settlements effected
by the CSCS (Central Securities Clearing System) a subsidiary of the
Exchange.
Ownership of the Exchange is made up member/brokers, who not only
exclusively trade listed securities, but also originate new listings
and act as the registrars.
Legal authority is via government decree with the Securities and
Exchange Commission (SEC) acting as regulators, although it could be
said the Exchange is largely self-regulating.
While Nigeria is notorious as ?safehaven for? narcotraffickers
operating worldwide; major money-laundering center; massive corruption
and criminal activity?(1.)(2.), the Exchange in itself appears
relatively free from fraud. Examples certainly exist (3.) but the
percentage of the market held in foreign hands (47%), tend to reassure
this commenter that such examples are relatively isolated. Outside the
Exchange all bets are of, so extreme care needs to be taken.
Eg. Want to buy a domain name similar to the Exchanges actual website see here:
http://www.thenigerianstockexchange.com
This site name is even referred to in one of the introductory pieces,
let alone the countless scam sites encountered in completing this
comment.
Finally if further (detailed) information comes to hand I will pass it along.
Kind regards,
gfmaster
Reference:
1.CIA: The World Factbook;
http://www.odci.gov/cia/publications/factbook/geos/ni.html#Econ
2.U.S. Securities and Exchange Commission
http://www.sec.gov/answers/nigeria.htm
3.
http://www.thisdayonline.com/archive/2003/02/07/20030207mkt01.html |
