now the fun has just begun   the insider trading & manipulation will be elevated to a statecraft! this is naija & shit happens cos as the 'yes we can' statesman said individuals cum strongmen rule here not institutions. so where will the checks & balances come from?
heard som1 say nairaland.   .   .   .   .LOL!!!

dfanthom:

now the fun has just begun the insider trading & manipulation will be elevated to a statecraft! this is naija & shit happens cos as the 'yes we can' statesman said individuals cum strongmen rule here not institutions. so where will the checks & balances come from?
heard som1 say nairaland. . . . .LOL!!!

i like your contribution.Naija is a country that is run on individual whim and caprices and not on a system.

Abatakan:

Thanks Ibime/Rebarobyn/Rasputin and to others who can see the issue here.

You made my day,amongst all this madness there are still nigerian that believes this is wrong!wrong! wrong!?To paraphrase Ibime-The lion (Dangote) is now in charge of the zoo. Goodbye to NSE.

@ all investors, withdraw your cash with immediate effect.

And to add my own`The Lunatics Have Taken Over The Asylum`

Keep hating while you watch Aliko Dangote's money piled up. Yeah, buddy! If this could have been one of your cave men, I bet your ass probably going to pop "Ogogoro or Burukutu champagne". Won't you? Okekere was there before, Otudeku just got off, let's Dangote shine too, it's way long overdue--this is about time buddy. You are a hater, keep drinking your Gatorade Hate-to-rade jackass; it ain't finna gat your scrub-ass nowhere in life buddy!

Did I hear someone now saying. . . . . .''Power now belongs to the north!''

Well, as long as according to the rules of the NSE, he is eligible, I have no problem with that. What they should do is revise their rules before the next tenure. I believe this position is just a ceremonial thing among the top shareholders. The Director General is the position of the regulatory body of the stock exchange.

I believe it's like Tee Mac being the president of PMAN.

i saw it coming

who the heck is dangote and how do you milk him

@dammizz
by now u should know that no industry in nigeria is too big to be destroyed especially by greedy and unreasonable individuals whose sole mission is to promote their very own interests (and occassionally not even in a subtle fashion)

Stil dont get why people are against Dangote?

Was the election rigged?

Does he in anyway influence who gets listed or de-list?

does he have anything to do with companies balance sheet and timely announcements?

The regulatory body is SEC-headed by Arunma Oteh, and the DG is Madam 'I have a Phd' Okereke

@Dis Guy

this president of the NSE thing to me is just like some ceremonial position. I don't believe he has any rights to make rules or adjust regulations of the stock exchange.

People just hate rich people. See the refineries the man wanted to buy, what are the masses using them for now?

His emergence was improper. because a teacher can not be a student at the same time in the same class he/she teaches.

Nigerians and NSE investor open your eyes. he may have performed credibilly well as vice president because he is not at the herm of affairs,

lets hope other stalkholder holder dont buy into his monopolitic nature of doing business. Just as Dangote has done, with Sugar, and other consumable goods. God help this country.

what is all this hulabaloo about? he was the vice president of the NSE and the culture is that the vice president always takes over from the president so what is all this nonsense talk of insider trading and manipulation?

Nigeria have come to be a D-I-S-E-A-S-E

God help us in this country! Well, Lets see what he can do but I'm skeptical though

@jaguar

Can a student not become an SUG President or a NANS President? Will they say because they are stake holders, they should find their executives among lecturers?

i tot d guy was an illiterate, u no a trader, lol

I think Otedola should be on que  as vice president or president in waiting.At least he will provide a credible check on Dangote, while the saga continues.Meanwhile  i have my eyes on Ghana stock exchange now!

What a pity for Nigeria!!!!!

What grace for Nigeria.

For the first time, I really think he deserve it since he has been vp for some time now.

he does not deserve such a position because his integrity has been copromised. apart from that someone that can stoop so low to do all what he did can do ANYTHING TO PROTECT HIS INTEREST

Bill gates,bill clinton & warren buffet are billionaires yet most of their money have gone into charity which nigeria benefits from even til tomorrow.Dangote & otedola are billionaires bt they've done nothing to bring nigeria from our current miseries, I only pity otedola cuz dangote wil deal with him now.Who cares afterall i no chop 4 der money'^~lol

this fellow Dangote should fix the NSE website.

a whole NSE does not have functional website is laughable.

I wonder what Otudeko really achieved!

can him perform?

nex:

@jaguar

Can a student not become an SUG President or a NANS President? Will they say because they are stake holders, they should find their executives among lecturers?

Does that remove the fact that he is still a student. U miss the point. HONOUR. His act is called insider abuse, manipulating the system. SEC should not have allowed his nomination. But of course, this is Nigeria. Shit happens.

conflict of interest
plain and simple. and like someone said, a known inside trader. how can we be so willing to accept this?

I laugh b'cos I don't know what nigeria is turning into. To me, this seems to be a some kind of freaking joke!

THIS IS CALLED CONFLICT OF INTEREST PEOPLE!!!!!!! THIS IS LIKE ALLOWING THE WOLVES TO WATCH OVER THE SHEEP. NORMALLY, I DON'T USUALLY HAVE A PROBLEM WITH CONVERTING A POACHER INTO A GAMESKEEPER BUT GEEZ, DANGOTE SHOULD HAVE SOLD ALL HIS SHARES AND OWNERSHIP IN HIS COMPANY BEFORE BEING ALLOWED TO TAKE OVER THE NSE, THE MAN WOULD JUST CORNER THE MARKET ON BEHALF OF HIS COMPANY.
When Joseph Kennedy (the father of John Kennedy) was put in charge of the newly created securities and exchange commission (SEC) he had already left wall street by then. Even though he made a majority of his money in the stock market in what would be called unethical practices today his expertise was needed on how to stop people from doing the same "unethical" things he did in the market. 
Nigeria should have a board of goverment ethics that screens any potential government employee so as to avoid this nonsense.

dis na naija

Please, you people should think straight. When Jerry Putnam became president of the NYSE in 2006, besides being a shareholder in a couple of companies, he was also a shareholder in the New York Stock Exchange itself via the acquisition of his electronic company, Archipelago Holdings some years prior to that.

In terms of integrity, the same Putnam was investigated for his involvement in a controversial trade with Wolfang Flottl which saw the collapse of Refco.


The question y'all should be asking yourselves is:

WHY DO YOU HATE SUCCESSFUL PEOPLE SO MUCH??!

Don't know too much about stocks though i know the post of Presidency of the NSE is not akin to being the DG of the NSE. Being the DG gives more you more official responsibility and oversight functions of the state of the stock exchange.

That being said, it appears to me that Dangote's election as the President of the Stock Exchange is more like having a prominent actor become the President of the Actors' Guild of Nigeria, or like someone earlier said, 'like TeeMac being the President of PMAN'.

So my question is, "is the NSE board of which Dangote is president, more like an association, for which Directors and Chairmen of public quoted companies are members?" If yes, then there might not be much wrong in him becoming the President.