By InvestAdvocate
Lagos (INVESTADVOCATE)-Nigeria’s Debt Management Office (DMO) said Tuesday is seeking to appoint a Stockbroker to serve as the Government Stockbroker for the
Federal Government of Nigeria Securities (FGN Securities) listed (and to be listed) on the Nigerian Stock Exchange (NSE).
This is contained in an Advert by the DMO on the website of the Nigeria’s Exchange.
“The Debt Management Office (DMO), on behalf of the Federal Government of Nigeria (FGN), seeks to engage the services of a stockbroker to serve as the Government Stockbroker for Federal Government of Nigeria Securities (FGN Securities) listed (and to be listed) on The Nigerian Stock Exchange (NSE or the Exchange)†the DMO said.
According to the DMO, the functions of the Government Stockbroker include, ensuring at all times that the FGN Securities included in the NSE’s Official List are accurate.
Also, the Stockbroker would engender and facilitate trading in FGN Securities on the Exchange; especially by retail investors by providing Bid and Ask Prices on the Exchange and acting as a Buyer and Seller of last resort where transaction counterparties are not available for trades.
Other functions of the Government Stockbroker are submitting reports to the DMO as may be required of activities in FGN Securities on the Exchange, acting as a liaison between the DMO, NSE, other Stockbrokers and any relevant stakeholder as may be required from time to time, as mandated by the DMO.
Also, the Stockbroker is expected to perform any other functions relating to the promotion of active Secondary Market trading in FGN Securities on the Exchange as may be directed by the DMO.
The DMO says applicants seeking this position must be members of The Nigerian Stock Exchange that have operated on the Exchange for a period not less than five (5) years and must have achieved a minimum Turnover of N20 Billion in transaction value and handled a minimum of 50,000 transactions on the Exchange in years 2009, 2010 and 2011 respectively.
Click to download details by DMO
