SEC, NSE streamline processes to boost market listing


SEC Towers

By Chinyere Joel-Nwokeoma

The Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) have streamlined  the processes involved in the listing on the nation’s stock market for more efficiency and cost effectiveness.

A statement in Lagos on Thursday said the approval process between the two organisations had been streamlined.

It said that the streamlined process which would come into effect on June 1, was aimed at reducing the regulatory burden on issuers by eliminating duplication of processes between them.

“With the streamlined processes, the SEC and the NSE will carry out joint site visits of companies intending to get listed, following the registration of their securities with the SEC.

“In the same vein, certain offer documents such as the Vending Agreement, Underwriting Agreement, Trust Deed and ISPO, identified to be strictly within the jurisdiction of the SEC are to be submitted only to the SEC.

“Also, the exchange will rely…

Source: News Agency of Nigeria