By Peter OBIORA investadvocate

Aug 30 2010 07.38 GMT

Lagos–Dealing Members of the Nigerian Stock Exchange (NSE) has on Thursday August 26 2010 advised Emmanuel Ikazoboh, the Interim Administrator of the Nation’s Stock Market to manage information flow as regards the Capital Market.

A Dealing Member name (withheld) confirmed this to investadvocate coming on the heels of a meeting held between them and the Interim Administrator as part of efforts to restore investors’ confidence in the Nigerian Capital Market (NCM).

We have advised him to manage how information is disseminated as regards the Stock Exchange; because it is a very vital part of the Nigerian economy and anything that happens to it will definitely affect the Nationeconomy, this was the general consensus we came up with and advised him

Ikazoboh assumed office August 5 2010, following the removal of Professor (Mrs.) Ndi Okereke-Onyiuke as Director General (DG) of the Exchange and his appointment as Interim Administrator by the Apex Capital Market Regulatory Institution, the Securities and Exchange Commission (SEC). He has since then held several meetings with Capital Market stakeholders as a way of bringing stability to the Market; following SECs mandate.

As part of his effort of carrying out his mandate of sanitising the Market, a forensic auditing has already commenced to determine the financial state of the Stock Exchange. This is being handled by

Also late last week the Ikazoboh led Exchange informed the public that in furtherance of its goal to restore investor confidence in the Nigerian capital market, the Council of The Nigerian Stock Exchange at its meetings held Wednesday August 25 2010 decided to reduce The Exchange’s staff strength by 32.5% from 292 to 197 staff members.

This indicates that about 95 staff was affected by the right-sizing; which cuts across all levels of seniority at the Exchange.