Nigerian Exchange Group

The Nigerian Stock Exchange (NSE) was established in 1960. As of March 9, 2007, it has 283 listed companies with a total market capitalisation of about N15 trillion ($125 billion). All listings are included in the only index, the Nigerian Stock Exchange All Shares Index.

File:Stock exchange.jpg

Nigerian Stock Exchange

Operation

The exchange has an automated trading System. Data on listed companies' performances are published daily, weekly, monthly, quarterly and annually.

Trading days and times on the Lagos Exchange are Monday to Friday, 11:00 to 13:00. Charges include a 3% commission on the traded value of shares and a 1% Securities and Exchange Commission fee. Withholding tax on dividend and interest remains at 10%; corporate income tax is 35%, and capital gains tax stands at 10%.

In order to encourage foreign investment into Nigeria, the government has abolished legislation preventing the flow of foreign capital into the country. This has allowed foreign brokers to enlist as dealers on the Nigerian Stock Exchange, and investors of any nationality are free to invest. Nigerian companies are also allowed multiple and cross border listings on foreign markets.

Associations

The Lagos Exchange is an affiliate member of the World Federation of Exchanges (FIBV). It is also an observer at meetings of International Organization of Securities Commissions (IOSCO), and a foundation member of the African Stock Exchanges Association (ASEA).

Council

On 6 August 2009 the new council members of the NSE were nominated President Alhaji Aliko Dangote, CON 1st Vice President Chief Reginald Abbey-Hart,JP 2nd Vice President Dr Erastus B.O. Akingbola, MON

See also

• List of companies of Nigeria
• List of stock exchanges
• List of African stock exchanges

External links

• Official Site
• The Nigerian Securities and Exchange Commission: Official Site
• Proshare: NSE News Updates
• [http://www.easykobo.com/ Interactive financial environment hub for Nigeria investors'.