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11 Dec 2017

LIST OF STOCKBROKING FIRMS BANNED FROM OPERATING BY THE NIGERIA STOCK EXCHANGE

  .com/
Nigerian Stock Exchange (NSE) has today withdrawn the operating license Midland Capital Markets Limited from the capital market, the decision was taken by the National Council of the Exchange, the highest administrative organ of the NSE. This has increased the total number of stock broking firms that have been expelled from the capital market this year to 90
With this action taken against Midland Capital Markets Limited, it has also been deregistered as a capital market operator by the Securities & Exchange Commission (SEC). Though no reason have been given for the action, it is generally believed to be linked to fraud and inability to meet major operating requirements for the function. An inside source at the exchange hinted us that the stock broking firm was expelled following a recommendation of the disciplinary committee of the council and final approval of the National Council of the Exchange.

The stockbroking firms so far expelled and banned from trading include:
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