Nigerian Stock Exchange on course to list its own shares

Oscar Onyema, CEO, Nigerian Stock Exchange

A bill that has passed a second reading by Nigeria‘s parliament could pave the way forthe Nigerian Stock Exchange to issue its own shares, a draft of the bill seen by Reuters showed on Wednesday.

The exchange wants to change its ownership structure from a mutual firm of broker members to one owned by shareholders, in an effort to improve governance and possibly open up new funding sources, including a possible share offer.

Members have given the exchange, which is one of the main entry points for foreign funds into Africa, the go-ahead to become a listed company.

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