FG won’t force companies to list on NSE, says Osinbajo

No company across the Nation will be forced to include its shares on the floor of the Nigerian Stock Exchange, the Vice-President, Prof. Yemi Osinbajo, has said.

Osinbajo ruled out any direct government intervention in forcing private companies to list their shares, noting that the decision to list by private companies would remain decisions of their Boards of Directors and shareholders.

The Vice-President said this on Friday during a working visit to the NSE in Lagos.

Osinbajo interacted with market stakeholders and traders and performed the ceremonial closing of the market.

But he said the government would consider incentives to encourage companies to list their shares on the NSE in recognition of the importance of the Nigerian capital market as a major driver of the national economy.

Osinbajo said the government would work with the NSE to promote the Nigerian stock market given the role the stock exchange plays as an important driver of economic activities and investments.

He noted that while the main focus of the government was to create a generally amenable operating environment for the private sector to thrive, government would also consider proposals from the Exchange on ways to encourage listing and support corporate growth.

“We certainly want to encourage listing, and that’s part of why I am here, to promote interest in the market,” Osinbajo said.

He said the government would work with the market stakeholders to determine possible areas of incentives and supports that could stimulate participation in the Nigerian market.

“We will be acting a lot on the advice of the NSE council. Where the NSE council or the market makers think that there are things that may be done to make life easier in some way or to encourage listing in some way, we will be happy to listen to them,” the Vice-President added.

Advertisements