The House of Representatives on Wednesday resolved to investigate the stagnation of some publicly-quoted companies, especially insurance firms listed on the Nigerian Stock Exchange (NSE).
This followed a motion by Rep. Femi Fakeye (Osun-APC), who expressed concern over allegations of malpractice in the market.
Moving the motion, Fakeye called for intervention of the House by examining the declaration by the Minister of Finance on the performance of the Exchange.
According to him, the minister asserted that the exchange is the best in the world at the moment, based on the upward appreciation in the shares of some Public Limited Companies (PLCs) listed on it.
“The investors who choose to invest money in buying shares of publicly-quoted companies expose their money to the risks inherent in the operations of the companies.
“This is through…
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