The Senate has expressed its commitment towards ensuring Nigerians are not shortchanged as the upper chamber begins work on a bill to demutualise the Nigerian Stock Exchange, NSE.
Acting Chairman of the Senate Committee on Capital Markets, Senator Foster Ogola disclosed this at a briefing with Senate Correspondents at the National Assembly complex.
The demutualisation bill seeks to enable the conversion and re-registration of the Nigerian Stock Exchange from a company limited by guarantee to a public company limited by shares.
Senator Ogola says the proposed demutualisation of the Stock Exchange was an integral part of the 10-year Capital Market masterplan.
The bill passed second reading in the Senate during the week and is expected in four weeks.