The Nigerian Stock Exchange (NSE) says 35 stockbroking firms have been expelled from the bourse.
In a notice published in Punch newspaper, the exchange said the decision was reached after a special meeting of its national council on December 13.
The NSE said the public should not deal with the expelled firms in relation to transactions on the exchange and that any investor who has a stockbroking account with the firm should transfer to any licensed firm that is a dealing member of the exchange.
Here is a full list of the affected firms:
Andruche Investments Plc
Angela Eccies Limited
Associated Trust Investment and Finance Limited
Beaver Securities Limited
Betraco Securities Limited
Cobal Ventures Limited
Financial Intermediaries Limited
Corporate Focus Securities Limited
GF Securities Limtied
IB Finance Limited
Intergrated Securities Limited
Integrated Ventures Nigeria Limited
Intercommerce and Consultant Limited
Investment and Capital Development Company Limited
Investment Trust Company Limited
Kamrash Securities Limited
Lakeside Asset Management Limited
M and F Investment and Securities Limited
Milestone Investment and Securities Limited
Millennium Investment Trust Limited
Moji Securities and Investment Nigeria Limited
Morgan Trust Asset Management Limited (formerly known as IMB Morgan Plc/IMB Securities Limited).
Multibank International Securities Limited
Nationwide Finance and International Securities Limited
Novelty Investment Limited
Optimus finance and securities Limited
Pabod Finance and Investment Company Limited
Pabofin Securities Limited
Path Securities and Investments Limited
Shiroro Finance Limited
Tassel Finance and Investment Limited
Unique Securities and Finance Services Limited
Upper Credit Securities and Investments Limited
WellsFargo Capital Limited
Westland Investment Limited.