Nairametrics| The National Association of Securities Dealers (NASD), in collaboration with the League Management Company (LMC), has announced that eight Nigerian football clubs are in the process of listing. 

The clubs to be listed are Kano Pillars, Enyimba Football Club, Shooting Stars Football Club, Enugu Rangers Football Club, MFM Football Club, Wikki Tourists Football Club, Gombe United Football Club and El-Kanemi Warriors Football Club. These clubs were nominated by the League Management Committee as pilots in preparation for other interested football clubs. The LMC has invited Issuing Houses who can act as financial advisers to the Clubs to express interest.

The proposed listing is a win-win situation for both the clubs and the NASD. This brings to fruition discussions that began in July 2016 between the two organizations. The listing will bring more awareness to the NASD, as Nigerians will pay attention to other stocks listed there, leading to increased trading volumes on the exchange. For the football clubs, listing will give them access to financing and investors that will run them in a more professional manner.

Football clubs in Nigeria are majorly owned by state governments and a handful of private individuals. Access to funding is thus limited, and the clubs cannot compete effectively at both continental and global levels. Increased financing for the clubs, will mean better salaries and wages for the players and management. They would also be able to make crucial investments such as owning their own stadia and training facilities. This then trickles down to the immediate economy, through creation of new jobs and increased spending power.

The NASD is a trading platform for unlisted securities in the country. Unlisted securities are shares of companies not trading on the Nigerian Stock Exchange (NSE). The LMC is the body in charge of running the Nigerian Professional Football League (NPFL). It is owned by the Nigerian Football Federation (NFF) and the participating football clubs. There are currently 20 football teams in the League.

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy.


  1. I agree with you.the story is not clear.if nasd are association of security dealer, you means they are dealer in securities secured or unsecured,who includes stockbroker,lawyer who drafts legal document,and offers expert advises on the security laws to their dealer also means they can issue i.o. u.debentureand bond,they can also agree on financial engineering terminology.
    On your question, what it means for investors in the football,cannot be be answered in simple term.i will answer your from another angle.ONCE THOSE FOOTBALL CLUB once floated on the nse will the club get some new fund ,which they do not have before,they could get at least 500 millions naira to about 2 billion naira.which they do not have beforewhich can be in form ordinary shares with limited control of the board according to the company’s article of association and memoranda of association.meaning the club owes those small investor some proportionally,that they invested.
    With this new funds,the club within a few yrs may build a new stadium,buy new skillful or new marandona,Football is the most passionate sport in our world,and they have die-hard supporter.who will do anything for their football,football clubs get their income from gate fee on broadcasting as advertisement on,televsion matches when their clubs is on tv.they also get money from other company’s from advertisement.
    If Mr Dangote founds kano pillar is the most successful football in Nigeria,he may buy the club out-right and delist is business

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