The Speaker of the House of Representatives, Yakubu Dogara, said on Monday the House demutualised the Nigerian Stock Exchange (NSE) to make it more attractive to investors.
Dogara, in a statement issued by his Special Adviser on Media and Public Affairs, Mr. Turaki Hassan, said the action would enable more multinational corporations to get their companies listed in the NSE and consequently contribute to the development of the economy.
“By implication, the demutualisation of the NSE will bring the ordinary Nigerian closer to benefiting from the nation’s commonwealth,” he stated.
The House had last week demutualised the NSE following the adoption of a report submitted by Yusuf Ayo Tajudeen- led Committee on Capital Market and Institutions on a Bill for an Act to facilitate the development of Nigeria’s Capital Market.
Dogara noted that the changes made by the House when concurred to by the Senate and signed into law by the President would ensure flexible governance structure in the capital market and stimulate the involvement of investors in governance.