By investadvocate

Feb 16 2011 19.51 GMT

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) Wednesday February 16 2011 announced that 45 Stockbroking Firms remains on suspension for inadequate Shareholders Fund. This was contained in a Statement by the NSE and posted on its official website.

The announcement reads thus: “14 February 2011: Updated list of undercapitialised Stockbroking Firms. We have suspended the following Stockbroking Firms for failing to meet the statutory Equity Capital requirement”.

This is coming on the heels of earlier suspension on Tuesday January 18 2011 of 57 Stockbroking Firms for inadequate shareholders Funds and the 50 announced on January 27 2011 on the same account.

As at the period under review, investadvocated gathered that 18 out of the 57 suspended Firms; third week of January 2011 as announced by the NSE on its official website have met the requirement.

 

Among these are Afrinvest West Africa Limited, BGL Securities Limited, Cowry Asset Management Limited, Cashville Investment & Securities Limited, BDSL Securities Limited, De- Lords Securities Limted, First Inland Securities and Asset Management Limited, Independent Securities Limited, Sigma Securities Limited, Valmon Securities Limited and Intercontinental Securities Limited.

 

Others are Nigeria Stockbrokers Limited, PIPC Securities Limited, Quantum Securities Limited, Securities Solutions Limited, Yobe Investment & Securities Limited, Capital Bancorp Limited and Vetiva Securities Limited.