NSE expels 35 stockbroking firms

By Onome Ohwovoriole - December 28, 2018

The NSE has expelled 35 stockbroking firms. The exchange disclosed this in a notice published on 28th December 2018 in The Punch newspapers. The move follows a special meeting of the National Council of the NSE held on 13th December 2018.

Here are the affected firms

Andruche Investments Plc
Angela Eccies Limited
Associated Trust Investment and Finance Limited
Beaver Securities Limited
Betraco Securities Limited
Cobal Ventures Limited
Financial Intermediaries Limited
Corporate Focus Securities Limited
GF Securities Limtied
IB Finance Limited
Intergrated Securities Limited
Integrated Ventures Nigeria Limited
Intercommerce and Consultant Limited
Investment and Capital Development Company Limited
Investment Trust Company Limited
Kamrash Securities Limited
Lakeside Asset Management Limited
M and F Investment and Securities Limited
Milestone Investment and Securities Limited
Millennium Investment Trust Limited
Moji Securities and Investment Nigeria Limited
Morgan Trust Asset Management Limited (formerly known as IMB Morgan Plc/IMB Securities Limited).
Multibank International Securities Limited
Nationwide Fiannce and International Securities Limited
Novelty Investment Limited
Optimus finance and securities Limited
Pabod Finance and Investment Company Limited
Pabofin Securities Limited
Path Securities and Investments Limited
Shiroro Finance Limited
Tassel Finance and Investment Limited
Unique Securities and Finance Services Limited
Upper Credit Securities and Investments Limited
WellsFargo Capital Limited
Westland Investment Limited.

The expulsions take immediate effect from the date of the National Council decision and all rights, incidences and privilege of membership automatically cease. The affected firms are also hereby notified by the notice.

The NSE also stated that the general public should not deal with the expelled firms in relation to transactions on the exchange.

Any investor who holds a stockbroking account in these firms should transfer their books to any active licensed stockbroking firm that is a dealing member of the exchange.

Investors or clients of these firms who may have deposited funds or securities such as share certificates are advised to go and collect such assets directly from these expelled firms.

SOURCE: https://nairametrics.com/breaking-nse-expels-35-stockbroking-firms/

This should be in front page please

Economic downturn

Cashcraft securities limited suppose to be among this firm. Don't deal with them else they will use your money to do business.