SEC mulls fresh recapitalisation for stock broking firms

Fri Feb 14th, 2020 - Lagos

•Seeks more palliatives for private equity operators, bluechips
Ahead of the planned change of ownership (demutualisation) of the Nigeria Stock Exchange (NSE), the Securities and Exchange Commission (SEC), may soon call for fresh recapitalisation of stock broking firms operating in the local bourse.

The Acting Director-General, SEC, Ms Mary Uduk, during an interaction with journalists yesterday, in Lagos, said with only 10 per cent of the 255 stock broking firms controlling 80 per cent of the market activities, there is a need for recapitalisation.

Already, other sectors like the banking and insurance are currently warming up for recapitalisation; the industry regulators have given them notice for the exercise.




source: Guardian