Dogara to ring closing bell at Nigerian Stock Exchange


Hon. Yakubu Dogara, Speaker of the House of Representatives, will today ring the bell at the Nigerian Stock Exchange (NSE) in Lagos.

A statement issued by the Special Adviser on Media and Public Affairs to the Speaker, Mr. Turaki Hassan, in Lagos, said Dogara will ring the bell to close activities on the floor of the stock exchange by 2p.m.

The speaker, according to the statement, was invited to the NSE in recognition of his contribution and that of the House of Representatives in deepening of the market through legislation.

Dogara is said to have been championing calls for the deepening of the exchange and recently, while declaring open a conference organised by the House Committee on Capital Market, said the House may pass laws that will compel multinational oil, gas and telecommunications companies doing business in the country to list a certain percentage of their value on the Exchange.

He had stated further that large companies in the listed sectors must be compelled to list on the capital market in order to deepen the market and make capital available for investors and create employment.

The speaker has also called for severe sanctions against fraudulent stock market players as part of measures to strengthen the country’s financial market.

It would be recalled that the House of Representatives recently initiated a certain legislation to effectively regulate the stock market to ensure the safety of investors’ funds.

While expressing confidence that the stock market could provide the needed platform to revamp Nigeria’s economy, the speaker had also said the House of Representatives was ready to contribute its quota to check the drift in the sector.

The Hon. Tajuddeen Yusuf (PDP, Kogi)-led House Committee on Capital Market and Institutions last month held a conference on the capital market and Nigeria’s economy in Abuja with a view to brainstorming on how to mainstream the market as a major driving force in repositioning the nation’s economy via initiatives that will enable ordinary Nigerians key into opportunities available at the Exchange to increase their propensity for long term investment.

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