• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

‘Sanction directors not companies’, Investors urge NSE

Emmanuel Abara Benson by Emmanuel Abara Benson
July 23, 2018
in Business News, Company News, Stock Market
Bonds, CBN

Nigerian Stock Exchange Trading Floor

Share on FacebookShare on TwitterShare on Linkedin

Some aggrieved shareholders of companies listed on the Nigerian Stock Exchange (NSE) have asked the regulatory agency to consider sanctioning the directors of any company that fails to adhere to minimum listing standards, instead of placing such sanctions on the companies.

This is expected to help avert situations whereby the shareholders are made to bear the consequences of the ineptitude of companies’ directors whose function it is to ensure that all post listing requirements of the NSE are met as at when due.

Meanwhile, some insurances companies, who are constant defaulters in this regard, have cast the blame on the National Insurance Commission (NAICOM) whom they alleged always delay the approval of results.

RelatedStories

Motorists urge NAICOM, Police to enforce payment of insurance claims in Nigeria  

Police arrests over 1,200 drivers for violating third-party insurance law in Oyo State  

May 14, 2025
NSE, ASI, Equity, Airtel Africa

NGX loses N25.27 billion to delisting between January to March 2025, records no new listing 

April 27, 2025

The NSE has taken stiffer and consistent measures against offenders 

The shareholders’ position follows stiffer measures taken by the Nigerian Stock Exchange towards curbing indiscipline in the stock market. As we reported, the NSE recently suspended all trading activities on the shares of seven insurance companies and one automotive/industrial goods provider as penalties for default on listing requirements.

Prior to this time, the regulatory agency already fined six more companies, including First Bank Nigeria Holdings Plc, Meyer Plc, Presco Plc, and Fidelity Bank Plc, etc.

Recall that back in April, the NSE X-Compliance Report showed that about 38 companies were fined the sum of ₦433 million over their failure to adhere to the minimum listing standards as regards the timely disclosure of their audited financial report for the year ended 2017.

As a result of the sanctions, more companies now submit their results on time. In Q1 2018 for instance, only five companies failed to submit their financial reports as at when due. This marks a 37.5% decrease compared to Q1 2017 when eight companies failed to submit theirs.

The NSE requires any companies who fail to submit their annual results on time the sum of N100,000 per week. This sum accrues until the day the result is eventually submitted.

“A listed company who contravenes any of the provisions of the Listing Rules and general undertaking and fail to pay the penalty imposed on it for such contravention on or before the due date shall be liable to a further fine of N300,000 in addition to N25,000 per day for as the violation continues.”– NSE

Unfortunately, when such sanctions are issued, it is the shareholders who often bear the brunt of it all. This is because their investments suffer. Owolabi Peter pointed out that company directors get their remunerations even when such companies are sanctioned by the NSE.

It is, therefore, in view of this that the shareholders are clamouring that the regulatory agencies should “sanction officers directly for failing in their responsibility.” Hopefully, this will force them to face their responsibilities in order to avoid subsequent penalties.


Follow us for Breaking News and Market Intelligence.
Tags: NAICOMNSE
Emmanuel Abara Benson

Emmanuel Abara Benson

Emmanuel Abara Benson is an experienced business reporter and editor. He currently edits articles at Nairametrics. Reach him via email on Emmanuel.abara@nairametrics.com and follow him on Twitter @Mr_Abara for his personal opinions.

Related Posts

Motorists urge NAICOM, Police to enforce payment of insurance claims in Nigeria  
Business News

Police arrests over 1,200 drivers for violating third-party insurance law in Oyo State  

May 14, 2025
NSE, ASI, Equity, Airtel Africa
Equities

NGX loses N25.27 billion to delisting between January to March 2025, records no new listing 

April 27, 2025
Nigerian insurance industry, NIA
Legal & Regulations

IGI Plc leads as NAICOM reports 1,571 Policyholder Complaints against Insurers

March 13, 2025
Nigerian insurance industry, NIA
Business News

NAICOM urges insurers to roll out cyber insurance products in Nigeria 

February 27, 2025
Nigerian insurance industry, NIA
Legal & Regulations

NAICOM counters NCIS, warns public against unlicensed third-party motor insurance 

February 25, 2025
NAICOM calls on Nigerian insurance companies to leverage on AfCFTA for cross-border expansion 
Business News

NAICOM calls on Nigerian insurance companies to leverage on AfCFTA for cross-border expansion 

February 18, 2025
Next Post
Factory

BUA Cement may hit 8 million metric tonnes capacity by year end

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • South-West doctors threaten strike over unfavorable allowances, issue 21-day ultimatum to FG
  • 15 things you don’t need to start a business in Nigeria 
  • NNPC, Akwa Ibom, GACN sign $3.5 billion gas agreement

Follow us on social media:

Recent News

Doctors

South-West doctors threaten strike over unfavorable allowances, issue 21-day ultimatum to FG

July 15, 2025
Small Business

15 things you don’t need to start a business in Nigeria 

July 15, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics