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Nigeria has a 1/2 trillion dollar economy. So why don’t firms want to list on the stock exchange?

By Ken Ikeh

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Posted on April 12, 2023 16:09

 © A sign is seen outside the Nigerian Securities and Exchange Commission (SEC) building in Abuja, Nigeria January 23, 2018. REUTERS
A sign is seen outside the Nigerian Securities and Exchange Commission (SEC) building in Abuja, Nigeria January 23, 2018. REUTERS

Under Nigeria’s former president Goodluck Jonathan, a bill was referred to the National Assembly in 2013 to compel private firms to abide by an annual turnover of N40bn-N80bn (nearly $87m-$174m) in order to be eligible to list on the stock market. Efforts to resuscitate the bourse have since come up short.

Known as ‘Private Companies Conversion and Listing Bill 2013’, the bill aimed at railroading private firms into becoming public liability companies.

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