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| Ms. Aruma Eteh |
The Securities and
Exchange Commission, SEC, has approved the shares of Conoil Plc,
Nigerian Breweries (NB) Plc and that of 15 other quoted companies on the
Nigerian Stock Exchange , NSE, to be used by investors for margin
lending activities.
Vanguard gathered that
the margin lending list, as released by SEC, was based on the Commission’s
rules and guidelines which it instituted with a view to curbing excessive
speculative activities of investors. The list is composed of securities which
shares have been adjudged by the Commission to have enough liquidity and
fundamental strengths to serve as margin securities.
Conoil is one of
Nigeria’s foremost petroleum products marketing company, famous for its high
performance and sustained impressive profitability over the years and with record
of robust returns on investment.
The company, with an
expansive storage capacity and retail network, is a service provider in the
areas of aviation fuel, lubricants and liquefied petroleum gas (LPG).
SEC recently released
the list of quoted companies which shares could be used in margin lending and
transactions, with a caution that only investors and persons with adequate
knowledge of margin lending should engage in it.
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