NGX Commits To Market Rules, Regulations

Recall a circular to the market recently in which NGX stated that lack of appropriate disclosures by investors was a breach of its rules and other extant market regulations.

According to NGX, the act also impacted market transparency and fairness as it creates information asymmetry. This, according to experts, could hamper price discovery, regulatory oversight and the accuracy of public disclosures. The divisional head, Capital Markets, NGX, Mr Jude Chiemeka noted that NGX is fully committed to maintaining the integrity and transparency of the Nigerian capital market.

“We urge all investors to comply with our rules and regulations regarding the disclosure of substantial interests in listed companies,” he said. He added that refusing to comply with these guidelines creates information asymmetry, distorts public information and market data, and undermines the confidence of investors in our market, saying the Exchange will continue to take necessary actions to ensure compliance and promote a level playing field for all market participants.

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