Connect with us

Nigeria In One Minute

Stock Exchange places 49 firms under caveat



Investors need to beware while seeking to buy or trade on shares of 49 quoted companies, a latest compliance assessment report by the Nigerian Stock Exchange (NSE) has shown.

The latest tracker report on corporate governance, regulation and compliance obtained by The Nation indicated that 49 companies have pending and unresolved compliance and governance issues that place them below the high standards required of quoted companies. The number of companies tagged with the red alert for various deficiencies represents about 28.5 per cent of the 172 total number of quoted companies at the Exchange.

The report was based on the Compliance Status Indicator (CSI) of the NSE, which uses three-letter codes to mark out companies that fall below the post-listing requirements at the Exchange. The tracker is updated regularly with addition of newly deficient companies and release of newly compliant companies.

The companies under the red-alert warning included Union Bank of Nigeria, Presco, Skye Bank, Transcorp Hotel, Resort Savings and Loans, Evans Medical, Academy Press, Nigerian-German Chemicals and Caverton Offsshore Support Group.
The Nation, August 23, 2017

RipplesNigeria… without borders, without fears

Click here to join the Ripples Nigeria WhatsApp group for latest updates.

Join the conversation


Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now