A total of 67 stockbrokers have been expelled from the stock market by the Nigerian Stock Exchange (NSE) has expelled. According to information made available to Tekedia, this regulatory action is aimed at weeding out unscrupulous and poorly capitalized stockbrokers.
With the expulsion, investors who have their investment accounts with the expelled stockbrokers will be required to move their accounts to other functional stockbroking firms.
The expelled stockbrokers are:
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- ATIF Securities Limited,
- Abacus Securities Limited,
- ABC Securities Limited,
- Akitorch Securities Limited,
- All Wealth Securities Limited,
- Apex Securities Limited,
- Asset Plus Securities Limited,
- Associated Securities Limited,
- Avon Finance and Securities Limited,
- Beachgroove Securities & Investments Limited,
- Broadedge Securities Limited,
- Bullion Securities Limited,
- Cardinal Securities Limited,
- City Investment Management Limited,
- Comment Finance & Securities Limited,
- Corporate Trust Limited,
- Crown Merchant Securities Limited,
- Dalgo Investment & Trust Limited,
- Devcom Securities Limited,
- Devserv Finance & Securities Limited,
- EBN Securities Limited,
- Equity securities Limited,
- Farida Investment and Finance Limited,
- Gilts and Hedge Finance Limited,
- Global Investment & Sec Limited,
- Goldworth Securities Limited,
- Haggai Investment & Trust Limited,
- Halsec Finance Limited,
- HP Securities Limited,
- Investicon Nigeria Limited,
- Investment Resources Limited,
- Island Securities Limited
- Jenkins Investments Limited.
- Kapital Securities Limited,
- Lozinger Securities Limited,
- M&M Securities Limited,
- M. J Securities & Investment Limited,
- Majestic Securities Limited,
- Matrix Capital Management Limited,
- MBA Securities Limited,
- MBCOM Securities Limited,
- Merchant Securities Limited,
- Metropolitan Trust Nigeria Limited,
- MMB Securities & Trust Limited,
- MMG Securities Limited,
- Nationwide Securities Limited,
- New Horizons Finance and Investment Limited,
- Nigbel Securities Limited,
- Omega Securities Limited,
- Omnisource International Limited,
- OpenGate Finance Company Limited,
- Pacific Securities Limited,
- Pamal Finance Limited,
- Peak Securities Limited,
- Prime Securities Limited,
- Prudent Stockbrokers Limited,
- Royal Securities Limited,
- Source Finance and Trust Company Limited,
- Supreme Finance & Investment Co. Limited,
- Synergy and Assets Trust Limited,
- Thomas Kinsley Securities Limited,
- Tradestamp Securities Limited,
- Trust Securities Limited,
- Unit Trust Securities Limited,
- Universal Securities Limited,
- Viva Securities Limited
- Wintrust Limited.
Capital market authorities had earlier in the year expelled 21 stockbroking firms including
- Allbond Investment Limited,
- Consolidated Investment Limited,
- Dakal Services Limited,
- Emi Capital Resources Limited,
- First Equity Securities Ltd,
- Ideal Securities Limited,
- Maninvest Asset Management Plc,
- Metropolitan Trust Nigeria Limited,
- Omas Investment & Trust Company Limited,
- Pennisula Asset Management & Investment Company Limited,
- Prudential Securities Limited,
- Securities Trading & Investments Limited,
- Transglobe Investment & Finance Company Limited,
- Tropics Securities Limited,
- Wizetrade Capital & Asset Management Limited,
- WT Securities Limited,
- Zuma Securities Limited.