Last week the Nigerian Stock Exchange announced quoted companies may now apply for suspension of trading on their stock as the new rule on request for suspension of trading. The rule was scheduled to commence March 2nd but has now being postponed indefinitely. According to the exchange the effective date of the rule has been delayed to a date to be announced subsequently in order engage in stakeholder sensitization regarding the rule.
NOTICE IS HEREBY GIVEN THAT, the provisions of Article 23 of the Securities and Exchange Commission approved “Amendments to the Listings Rules of The Exchange”, titled “Request for Suspension at the Instance of the Issuer”, shall no longer become effective on Monday, 2 March 2015, as previously announced.