March 11, 2001 by Udeme Ekwere with agency report    

           

 

The Nigerian Stock Exchange has unveiled plans to restructure its activities before it goes ahead with its plans to demutualise the bourse.

 

The Interim Administrator of the Exchange, Mr. Emmanuel Ikazaboh, who disclosed this to Reuters on Thursday, said that the Exchange needed to be prepared for the changes before they were carried out.

 

“What we intend to do is restructure the Exchange to prepare it as an entity. We are going to change the council to a board of directors and we are going to look into the corporate governance structure,” he said.

 

He said the NSE had visited Brazil, Malaysia and South Africa to look into their various models, adding that one of the key issues would be determining the valuation of the NSE.

 

He noted that a few initial public offerings would come into the market in the second half of the year, after the forthcoming general elections, adding that more would start “trickling in” in 2012.

 

(Source: Punch)