New Telegraph

NGX lists operators with inadequate shareholders’ funds

The Nigerian Exchange Limited has listed 13 trading license holders with inadequate shareholders’ funds as at March 14, 2022. The trading license holders, which were published under the Nigerian Exchange (NGX) Broker- Trax section and obtained by the New Telegraph has been considered inactive include Adamawa Securities Limited, CEB Securities Limited, Enterprise Stockbrokers Limited, First Stockbrokers Limited, GMT Securities & Asset Management Limited, Gombe Securities Limited and Horizon Stockbrokers Limited.

Others include Investment Shark & Asset Management Limited, ITIS Securities Limited Inactive, Kundila Finance Services Limited, ML Securities Limited, Standard Alliance Capital & Asset Management Limited and Supra Commercial Trust Company Limited. Based on the latest list of blacklisted persons published under the Nigerian Exchange (NGX) BrokerTrax section, NGX has sanctioned eight dealing clerks and thirteen directors of various dealing firms in 2021. In an effort to improve investors’ confidence in the market, The Nigerian Exchange Limited (NGX), commenced a strong campaign against market infraction by its trading license holders by introducing a trading license holders’ compliance report, BrokerTraX.

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