(3 Minutes Read)
Stakeholders urged the committee to actively facilitate legislative changes that would increase listing on the capital market.
Market operators have advocated speedy passage of legislative reforms that would promote more listing in the market to boost liquidity in the market.
At a courtesy visit of the Senate Committee on Capital Market to the Nigerian capital market alongside management of the Securities and Exchange Commission (SEC) in Lagos, the stakeholders urged the committee to actively facilitate legislative changes that would increase listing on the capital market.
The Group Chairman, NGX Group, Dr Umaru Kwairanga, stressed the need for the committee to ensure a revisit of the Private Companies Conversion and Listings Bill (PCCLB), stating that the document holds the promise of increasing listings in the market.The bill seeks the mandatory conversion (from private to public) and listing of all private companies that meet specified thresholds across sectors.
Read Also:
According to Kwairanga, increased listings will not only attract investments but will also contribute to improved governance, transparency, and tax accountability, which would help boost government revenue. He also canvassed regulations that would promote increased allocation of pension funds to the equities market.
