57 Nigerian Stock Brokers Suspended for not Meeting the Minimum Capital Requirement of N70m [17-21 Jan, 2011]

To give you a little historical perspective in 2001 the NSE traded 6 billion shares for the full year. In the first three weeks of this New Year we have already exceeded that number at 7.9 billion shares. Unfortunately the positive tone of the market was dulled by the suspension of 57 broker/dealers for not meeting the minimum capital requirement of N70m.
 The NSE-ASI appeared to ignore this by staying above 27,000. It was also the second full trading week of the year. The NSE-ASI closed at 27,684.40 +1.5%  (+4.2% in the previous week). Volume dipped to 2.6 billion shares (3.14 billion shares in the previous week).

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