Sanusi, Otteh demand listing of multinational companies on stock exchange

The Governor of Central Bank of Nigeria (CBN), Mr Sanusi Lamido Sanusi and the Director General of the Securities and Exchange Commission; Ms Arunma Otteh, 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.