A statement jointly signed by the Chairman and Secretary of the initiative, Moses Igbrude and Sebastian Udoh, described fee increment as outrageous, stating that the decision is capable of impeding the growth of the market.
“The SEC has unilaterally increased fees payable by companies quoted on the stock exchange and other entities. The management of IIADRI considers these increases as not only astronomical, punitive, inconsiderate and outrageous but also an attempt to stifle, repress, suppress, restrain and hinder growth in the country at a time when the economic indices are at the lowest and the enabling environment or infrastructure are almost nonexistent.
Meanwhile, the Nigerian Exchange Limited has stated that it will introduce more futures contracts in response to market demand and readiness to provide investors with a deep and liquid market to hedge their portfolios. This is coming after the exchange announced the launch of West Africa’s first exchange-traded derivatives market with equity index futures contracts.
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