Yakubu Dogara, speaker Nigeria’s house of representatives, will on Friday, July 8, 2016 ring the bell at the Nigerian Stock Exchange, NSE, in Lagos.
A statement on Thursday, July 8, 2016 signed by a spokesperson, Turaki Hassan, said Dogara will ring the bell to close activities on the floor of the Nigerian Stock Exchange by 2pm.
The speaker was invited to the NSE in recognition of his contribution and that of the house of representatives in deepening the market through legislation.
Dogara has been championing calls for the deepening of the NSE, and recently, while declaring open a conference organised by the house committee on capital markets, said the house may pass laws that will compel multinational oil, gas and telecommunications companies to list a certain percentage of their value on the Nigerian Stock Exchange.
Dogara has also said that large companies in listed sectors in Nigeria must be compelled to list on the capital market in order to deepen the market and make capital available for investors and create employment.
The speaker has also called for severe sanctions against fraudulent stock market players as part of measures to strengthen the country’s financial market, and the house of representatives has initiated legislation to effectively regulate the stock market to ensure the safety of investors’ funds.
While expressing confidence that the stock market could provide the needed platform to revamp Nigeria’s economy, the speaker also said the House of Representatives was ready to contribute its quota, to check the drift in the sector.
The house committee on capital market and Institutions – led by Hon. Tajuddeen Yusuf (PDP, Kogi) – last month held a conference themed, Capital Market and Nigeria’s Economy in Abuja.
