Ahead of the planned change of ownership (demutualisation) of the Nigeria Stock Exchange (NSE), shareholders’ group, Independent Shareholders Association of Nigeria (ISAN), has called for the consolidation of 255 stockbroking houses in the country, as only 10 per cent of the firms dominate the market.
The National Coordinator of the Association, Dr Anthony Omojola, while speaking at a virtual interview, insisted that such recapitalisation would give rise to mergers and acquisition, which would enable the emergence of stronger firms in the capital market.
He insisted that the prevailing fragmentation does not augur well for the market, noting that a well-recapitalised firm would boost transaction volume, increase overall market performance and make the capital market more attractive in the global arena.
The National Coordinator of the Association, Dr Anthony Omojola, while speaking at a virtual interview, insisted that such recapitalisation would give rise to mergers and acquisition, which would enable the emergence of stronger firms in the capital market.
He insisted that the prevailing fragmentation does not augur well for the market, noting that a well-recapitalised firm would boost transaction volume, increase overall market performance and make the capital market more attractive in the global arena.
