The decision of the House of Representatives to demutualise the Nigerian Stock Exchange was based on the need to make it more attractive to investors by opening up the capital market in line with global best practices, the Speaker, Hon. Yakubu Dogara, has said.
Dogara, in a statement by his Special Adviser on Media & Public Affairs, Mr. Turaki Hassan on Monday, said the action would make more multinational corporations to get their companies listed, thereby contributing to the development of the economy.
By implication, the demutualisation of the NSE would bring the ordinary Nigerian closer to benefiting from the nation’s commonwealth, he added. Sequel to the adoption of the recommendations of a report by Hon. Yusuf Ayo Tajudeen headed Committee on Capital Market and Institutions on a Bill for an Act to facilitate the development of Nigeria’s Capital Market by enabling the conversion and re-registration of the Nigerian Stock Exchange.