The Nigerian Stock Exchange has received final approvals of its demutualisation plan from the Securities and Exchange Commission and Corporate Affairs Commission respectively.
The group will have three operating subsidiaries, namely: Nigerian Exchange Limited , the operating exchange; NGX Regulation Limited , the independent regulation company; and NGX Real Estate Limited , the real estate company. All these entities have been duly registered at the CAC. The approvals by the SEC and CAC now signify that the NSE can now activate its transition plan to a new operational structure and holding company. The extensive transition plan, taking the group and its subsidiaries through to full operational launch, covers legal and practical changes to enable the functioning of the new corporate structure, with no loss of service and a seamless transition for market participants.
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