Dogara to ring bell at Nigerian Stock Exchange Friday

Speaker of the House of Representatives,Hon. Yakubu Dogara,  will on Friday ring the bell at the Nigerian Stock Exchange (NSE) in Lagos.

A statement issued by the Special Adviser on Media and Public Affairs to the Speaker, Mr Turaki Hassan said that Dogara, will ring the bell to close activities on the floor of the Nigerian Stock Exchange by 2pm on Friday.

The speaker was invited to the NSE in recognistion of his contribution and that of the House of Representatives in deepening of the market through legislation.

The statement noted that Dogara has been championing calls for the deepening of the stock exchange as it will be recalled that he had while declaring open a conference organised by the House Committee on Capital Market and Institutions chaired by Hon. Tajuddeen Yusuf had said that the House may pass laws that will compel multinational oil, gas and telecommunications companies doing business in the country to list a certain percentage of their value on the NSE.

He had stated further that large companies in the listed sectors 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.

The House of Representatives had 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 had also said the House of Representatives was ready to contribute its quota, to check the drift in the sector.