By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) has said that licences of 11 Dealing Member Firms on its Bourse have been revoked as at January 06, 2014.

According to the Brokers Trak report on status of Dealing Member Firms as at the review period, 19 is categorised as unactivated; meaning they are with licences; but not trading yet.

Also, the NSE reported 59 inactive Dealing Member Firms, 19 of which have been deregistered by the Securities and Exchange Commission (SEC) as at December 24, 2012.

The NSE affirms that an inactive Firm is a firm that has been suspended for a period of more than six (6) months by it or Securities and Exchange Commission (SEC); or has not recorded any activity for a period of three (3) or more months without being suspended.

However, 232 Dealing Members Firms were reported to be active as at January 06, 2014. With the total 321 Dealing Member Firms on the Nigerian Bourse, the 232 reported to be active in the review period, indicate’s that 39 percent (39%) are active.