The Nigerian Stock Exchange (NSE) says 35 stockbroking firms have been expelled from the bourse.
In a notice published in Punch newspaper, the exchange said the decision was reached after a special meeting of its national council on December 13.
The NSE said the public should not deal with the expelled firms in relation to transactions on the exchange and that any investor who has a stockbroking account with the firm should transfer to any licensed firm that is a dealing member of the exchange.
Here is a full list of the affected firms:
1. Andruche Investments Plc
2. Angela Eccies Limited
3. Associated Trust Investment and Finance Limited
4. Beaver Securities Limited
5. Betraco Securities Limited
6. Cobal Ventures Limited
7. Financial Intermediaries Limited
8. Corporate Focus Securities Limited
9. GF Securities Limtied
10. IB Finance Limited
11. Intergrated Securities Limited
12. Integrated Ventures Nigeria Limited
13. Intercommerce and Consultant Limited
14. Investment and Capital Development Company Limited
15. Investment Trust Company Limited
16. Kamrash Securities Limited
17. Lakeside Asset Management Limited
18. M and F Investment and Securities Limited
19. Milestone Investment and Securities Limited
20. Millennium Investment Trust Limited
21. Moji Securities and Investment Nigeria Limited
22. Morgan Trust Asset Management Limited (formerly known as IMB Morgan Plc/IMB Securities Limited).
23. Multibank International Securities Limited
24. Nationwide Finance and International Securities Limited
25. Novelty Investment Limited
26. Optimus finance and securities Limited
27. Pabod Finance and Investment Company Limited
28. Pabofin Securities Limited
29. Path Securities and Investments Limited
30. Shiroro Finance Limited
31. Tassel Finance and Investment Limited
32. Unique Securities and Finance Services Limited
33. Upper Credit Securities and Investments Limited
34. WellsFargo Capital Limited
35. Westland Investment Limited.
