By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian stock exchange (NSE) on Thursday announced it has revoked the registration of Kayode Awotile as authorised dealing member on its bourse for engaging in fraudulent practices.

The NSE in a notice on its website issued by Olufemi Shobanjo, head, broker dealer regulation said based on the meeting of the disciplinary committee of its national council held February 26, 2014 the committee passed the resolution that the registration of Awotile, the former managing director (MD) of Lakesworth Investment & Securities Limited, as an authorised clerk be revoked in pursuant to Rules 45 and 167 of the rules and regulations governing dealing members for contravention of the rules in relation to the unauthorised transfers, sales of shares and failure to carry out the directives of the committee.

“We hereby notify and advise all dealing member firms and their employees to desist from any dealings with Mr. Kayode Awotile in all capital market related activities. Please be guided accordingly,” the NSE said.