DG NSE advocates amendment of the nation’s capital market laws

The Director General of the Nigerian Stock Exchange, Professor Ndi Okereke Onyiuke has advocated amendment of the nation’s capital market laws to achieve changes in the sector.

In a message at the international conference on share buy-back in Abuja.
Professor Okereke Onyiuke said share buy-back was a legitimate business in other stock markets but under stringent legislation.

Represented by the Managing Director of Intercontinental Bank, Dr Erastus Akinbola, the Director General of the Nigerian Stock Exchange said that enforcement of the Capital Market laws should not be left to the security and exchange commission and the Corporate Affairs Commission alone, stressing that other agencies have roles to play to sanitise the Market.

In an address, the Director General of Securities and Exchange Commission, Mr Musa Al-Faki said the investment strategy of share buy-back would enhance wealth creation and increase the scope of the capital market.

Share buy-back in the capital market is a situation where a company repurchases its own shares from its shareholders.