The management of Nigerian Stock Exchange (NSE) has mandated operators in the Nigerian capital market to stop daily distribution of capital market information to clients and investors.
This directive was part of the licensing directive given to market operators late last week.
Afrinvest, an investment bank, in a statement sent to its clients, confirmed the directive. “Sequel to the directive from the Nigerian Stock Exchange mandating operators in the Nigerian Capital Market to stop daily distribution of capital market information to clients and investors, we shall temporarily suspend the mailing of our Closing share prices, Nigeria Daily Stock Market Report and other market reports pending the resolution of the newly introduced licensing directive by the NSE,” the statement said, adding that the company regrets any inconvenience this may have caused it clients.
Another firm, Meristem Nigeria Limited, has also sent similar statement to its clients informing them that due to the NSE’s directive, the regular price list and daily market reports made available to clients and the investors would be suspended temporarily.
The note said, “This is to notify you that we shall temporarily suspend the mailing of price list, the market update and some other reports, pending the resolve of the newly introduced licensing directive by the NSE.”