Nigerian Communications Commission (NCC) is planning to compel networks in the country to become listed on the Nigerian Stock Exchange (NSE) as part of efforts aimed at realising the target of $1trillion capitalisation by the Nigerian Stock Exchange by 2016.
Part of the requirements for licence renewal for the telecoms firms would be their listing on the NSE.
“Despite the transformation that the Exchange has gone through in recent years, its bid to get multinational oil companies and telecoms firms operating in the country to list on the Exchange has not yielded positive results,” PUNCH reported.
A reliable source at the NCC, who craved anonymity said, “The telcos may be required this time to list on the NSE; it will likely be one of the licence requirements. Although the telcos have always kicked against this, but it will definitely happen one day and the time is now.”
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When contacted, the spokesperson of the NCC, Mr. Tony Ojobo, refused to comment on the issue. He, however, said in a text message sent to PUNCH correspondent, “Let’s wait till then.”
The Head, Communications Department, NSE, Mrs. Nwando Ajene, confirmed that the telecoms firms might be coming to the Exchange soon.
“We have a series of initiatives we are working on to make companies, especially the telecoms firms to come to the NSE,” she said.
