THE NIGERIAN STOCK EXCHANGE REDUCES FEES ON BONDS

The Council of the Nigerian Stock Exchange has approved Transaction Charges for fixed Income Securities (Bonds).The approved fees are stated below:

1. Federal Government Bonds:

(a) Primary Market: (New Issues)
Annual listing cost fixed at N20m (twenty million) irrespective of the number of bonds listed by the Debt Management Office of the Federal Government.

(b) Secondary Market: (Daily Trading)
NSE: N1 per million of the underlying traded (charged on sell side only).
CSCS: N1 per million of the underlying traded (charged on both buy and sell sides).
Stockbrokers: N5 per million of the underlying traded (charged on both buy and sell sides).

2. State Government/Local Government (Municipal) and Corporate Bonds:

(a) Primary Market: (New Issues)
Annual listing fees remains on a scale with no charges, ranging from a minimum of N189,000 (for issues ‹ N50m) to a maximum of N4.2m (for issues › N200bn).
NSE: Application Levy: 0.15% for issues up to N2 billion
0.1% for issues above N2 billion
0.0125%

CSCS:

(b) Secondary Market:
NSE: N5 per million of the underlying traded (charged on sell side only).
CSCS: N10 per million of the underlying traded (charged on both buy and sell sides).
Stockbrokers: N10 per million of the underlying traded (charged on both buy and sell sides

MR TUNDE FALASINMI IS NOW THE MD/CEO OF AP PLC
African Petroleum Plc has notified the Nigerian Stock Exchange (NSE) of changes in its directorate. Mr Femi Otedola, who previuosly holds two positions as the Chairman and Chief Executive Officer dropped the later position for Mr Tunde Falasinmi, the Chief Operating Officer who is now the Managing Director and Chief Executive Officer of the company.