By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) said on Wednesday it has blacklisted three (3) dealing clerks on its bourse.

According to the NSE’s Broker Trax, those blacklisted are Kingsley Nnaji, Kayode Awotile and Akinwale Olagundoye.

Nnaji was blacklisted by the Exchange for unprofessional misconduct, Awotile for unauthorised transfers and sales of Clients shares, while olagundoye’s membership of the Chartered Institute of Stockbrokers (CIS) has been withdrawn and NSE offered no reason for this withdrawal.

To increase the level of market compliance, the NSE launched the Broker TraXtool at the start of year 2012.

The NSE said the launch of the Broker TraX is in its bid to improve investors’ confidence in the market; campaigning strongly against market infraction by its dealing members.

The NSE affirmed that with this initiative investors can now make more informed decisions about where to invest by viewing names of Dealing Member Firms that have been found liable for contravening market rules.