The Governor of Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi and the Director General of the Securities and Exchange Commission, Arunma Oteh, have both made a case for government to compel foreign companies in Nigeria to list the nation’s stock exchange.

Capital market operations came up for discussion during one of the interactive sessions at the final day of the 18th NationalEconomic Summit in Abuja and the issue of listing for multinational companies on the Nigerian Stock Exchange was of particular interest to participants.

The CBN Governor had in his remark noted that there would be no First Bank PLC or any of the big banks like United Bank of Nigeria (UBA) if the Federal Government did not introduce the indigenization policy in 1979.

He further cited examples of Asian tiger nations such as Malaysia, which has stringent rules for any international company to operate in the country without an overwhelming local ownership.

Ms Otteh, in her argument, claimed that there’s a lot of economic sense if the foreign based companies come to the stock market.

https://www.youtube.com/watch?v=dRxsm9KnFwM

Until governance in the exchange is cleaned up and strict rules are set up to fight against malpractices and insider dealing,no serious company would expose itself to the charade going on at the exchange.
Listing makes a lot of sense because it is bound to increase FDI:I know a company like MTN would be a big target.

By the way,Sanusi is full of hot air,sappy talk Oloun ngbo

any award 4 being d first 2 comment?

Will it reduce the price of garri in the market?

Sanusi has been talking too much these days!

.bbpreye:
Will it reduce the price of garri in the market?

Sanusi has been talking too much these days!

or u have been listening to him too this days...

Movingcoil: any award 4 being d first 2 comment?

chai!! See ojoro ooo, dz one no dey here wen I b comment. Corruption in nl

la furia:
or u have been eating too much GARRI too this days...

^^^I don't understand.. Are you talking about Sanusi or Ebamma or bbpreye?

You only get to enforce such stringent rules when u haved arrived as a country. I hate the fact that all sls does every bloody day is to wack. He needs to start profering realistic solutions.

Hw wil dis improve d life of ordinary nigerians who r struggling 2 feed?

jimino: Hw wil dis improve d life of ordinary nigerians who r struggling 2 eat GARRI?

Am confused!

The Senate should mandate all multinational companies in the Petro-sector to enlist in NSA or move out of the country.

.bbpreye:


Am confused!

That stand is good for our economy. It will drastically reduce capital flight abroad.

jimino: Hw wil dis improve d life of ordinary nigerians who r struggling 2 feed?

You don't have to struggle to feed. Being rich or poor is a matter of personal choice. Some people chose to steal while other remained creative and productive and stay wealthy.

It's a matter of personal choice and conviction.

jimino: Hw wil dis improve d life of ordinary nigerians who r struggling 2 feed?

.bbpreye:
Will it reduce the price of garri in the market?

Movingcoil: any award 4 being d first 2 comment?

These are the kids and jobless people on nairaland, for real, if you've got nothing to type, then read comments instead of littering this place with rubbish, anyway, you can't be blamed cos u hardly comprehend these shitties.

nitrogen:

These are the kids and jobless people on nairaland, for real, if you've got nothing to type, then read comments instead of littering this place with rubbish, anyway, you can't be blamed cos u hardly comprehend these shitties.

Grandfather! Heheheheheheheheeee

How have you now contributed to the thread?

is a good thing if they can

The multinational companies should be compelled to be listed in Nigerian Capital Markets instead of allowing them to take their excess profits back to their countries. There should a law backing it up.[quote author=]


https://www.youtube.com/watch?v=dRxsm9KnFwM[/quote]

MTN's share will surely b rushed more than Indomie tastee chicken.

nitrogen:

These are the kids and jobless people on nairaland, for real, if you've got nothing to type, then read comments instead of littering this place with rubbish, anyway, you can't be blamed cos u hardly comprehend these shitties.

God bless you. I have been reading such irritating comments from these kids. Nairaland is turning to a place where ignorance is been condoned and encouraged. These nuisance, rather than welcome a new topic to enlighten and broaden their perceptions and horizon or uplife the ignorant veil for a paradigm shift, they prefer to make a jest of everything. Are these the new generations we are breeding - the generation that think of Garri?

Billyonaire: The Senate should mandate all multinational companies in the Petro-sector to enlist in NSA or move out of the country.

big fool,mumu na N.S.E nt N.S.A.which tribe u b sef?

Billyonaire: The Senate should mandate all multinational companies in the Petro-sector to enlist in NSA or move out of the country.

WORD

osram: big fool,mumu na N.S.E nt N.S.A.which tribe u b sef?

Oga mr too know, what meaningful contributions have you made to Nigeria or Nairaland forum with your wisdom? So you sef nor dey make mistake? Now we should clap for you for writing NSE?

Most arrogant peeps like you cannot tie their shoe lace in real life. Whether he is from japan or Tanzania doesn't matter, but he do make meaningful contributions on this forum

Just saw the video and both SLS and Mrs Oteh gave reasons that aren't good enough.
She is talking about human shields while the CBN governor compares Nigeria to Malaysia.
Meanwhile, if those Multinationals are listed in NSE, Nigeria won't be losing Billions of Dollars of stolen funds to property companies abroad.
Those monies would actually be reinvested in such Multinationals and bluechip companies which common man can buy into and in turn see his money grow and multiply.
Perhaps, there wouldn't have been the bubble burst the NSE experienced years ago if a bulk of money generated from our Natural resources went into NSE.

'A criminal should not be arrested cos he's a criminal but cos he committed d crime in question' Sanusi and Oteh are correct and on point this time around. Even if Garri does not reduce, it will give many d buying power to purchase it.The likes of MTN, Etsalat, et al should be included in such legislation, if it sails thru.

.bbpreye:
Will it reduce the price of garri in the market?

Sanusi has been talking too much these days!

aglomar: MTN's share will surely b rushed more than Indomie tastee chicken.

Nigerians believe MTN is a scam ( based on majority of nairalanders opionion ).

nitrogen:

These are the kids and jobless people on nairaland, for real, if you've got nothing to type, then read comments instead of littering this place with rubbish, anyway, you can't be blamed cos u hardly comprehend these shitties.

and u ar an adult with his aji amu turning to green white green... Lemme me not talk much

omosexy1:

God bless you. I have been reading such irritating comments from these kids. Nairaland is turning to a place where ignorance is been condoned and encouraged. These nuisance, rather than welcome a new topic to enlighten and broaden their perceptions and horizon or uplife the ignorant veil for a paradigm shift, they prefer to make a jest of everything. Are these the new generations we are breeding - the generation that think of Garri?

which kids ar u breeding, hav u ever brought out ur bathroom slippers shaped br..easts and razor sharp n.i*pple 2 feed me dat u should say u ar breeding me, don't ever open dat ur shellfish shaped ogiri smelling to.to 2 ever write trash here again

Obviously most people commenting here seem to not understand how the whole stock exchange thing works. I even wonder when senior government officials make statements like these, considering that they're supposed to be better educated and informed than the rest of us.

Listing on the stock exchange does not automatically mean the profits will remain in Nigeria. In fact, it means the MNCs can raise money locally from the capital market, to fund their operations, as opposed to bringing in the bulk of their funding from abroad. These operations will most likely be run by foreign companies who will come in and get paid with Nigerian money, which of course will be repatriated to their home countries.

In fact, what it means is that the MNCs can recoup their initial investment very quickly if they sell off a significant portion of their holding at a solid premium. Imagine how much one share of MTN would be traded for

Some of the MNCs, like MTN and Airtel, have Nigerian ownership already, only that it is privately held, and not traded on the exchange. MTN have done a private placement in the past, for a small percentage of their shares. So has Etisalat.

Or maybe Mr Sanusi is hoping the government can nationalize multinationals like MTN, so they can turn it into another NITEL Sorry bros, not gonna happen
They should ask Glo, the Nigerian company (that ironically has never published any financial statements) to list, abi?

Laughing in pain!

The Nigerian Government reminds me of the story of Pharaoh.

Specifically, the part when God hardened Pharaoh’ heart and blinded him from reason. Our leaders are blind to the way forward. They are only making all sorts of blind suggestions which have no ground breaking positive implications for the future.

We all know that our core problem in Nigeria is INEFFICIENCY, WASTEFULNESS and CORRUPTION. And the people in power are at the heart of these problems.

The situation is soo bad that any attempt to improve the already efficient private sector will be killed by the INEFFICIENCIES, WASTEFULNESS, and CORRUPTION of Government. In fact, the corruption of the government is already killing the private sector. Businesses are struggling. Cost of manufacturing in Nigeria now exceeds cost of importing goods (even with the high import duty rates). We don’t produce nor manufacture anything anymore… other than oil… the black curse.

Now, they are suggesting we frustrate the Hen that lays the golden eggs.

Why kill the hen that lays the golden eggs? Why not first of all take care of the vultures and hawks before exposing the Hen? Why not clear the weeds and thorns before pruning the flowers?

And really, what are the benefits the common man is supposed to derive from listing multinationals on the stock exchange?

Zero! It will only give the fat government officials an avenue to hide their stolen loots in form of shares

these are simply disgruntled politicians looking for a backdoor way of buying stock in these multinational companies.

Billyonaire: The Senate should mandate all multinational companies in the Petro-sector to enlist in NSA or move out of the country.

why? so your thieving politicians can use our stolen loot to buy those shares?