In order to view this page you need Flash Player 9+ support!
INSURANCE
SEC provides platform to track unlisted stocks
Wednesday, 22 May 2013 06:15
The Securities and Exchange Commission (SEC), has said it has commenced the tracking of activities of unquoted securities in the stock market, in a move that would enable investors be abreast of information on such stocks, as well as further enhance confidence in the market.
The Abuja Securities and Commodities Exhange (ASCE), is set to divest up to 70 per cent of its ownership of the of the entity, as it has already set up a committee to ensure a smooth privatization exercise from government ownership to institutional investors.
The Debt Management Office (DMO), said it is floating N100 billion sinking funds to guarantee the redemption of its bonds issues as well as other bonds issuance in the securities market, even as it said that a total of $1billion Eurobond bond issuance is expected to hit the financial market in the second quarter in addition to the Diaspora Bond being expected before the end 2013.
The Commissioner for Insurance Fola Daniel, has said the government would adhere to the no premium no cover policy as it is part of the nation's laws.
Insurance brokers are not comfortable with the enormous demand by the Nigerian National Petroleum Corporation (NNPC) to enable them qualify for oil and gas insurances Nigerian Compass has learnt.
The National Insurance Commission (NAICOM) has concluded plans to review the Market Development and Restructuring Initiative (MDRI) which was designed to enhance the industry's growth.
