CORPORATE NEWS: 22 Stockbrokers face expulsion; NEW MD FOR Airline Services& Logistics; new council sec for NSE

22 STOCKBROKING FIRMS IN TROUBLE

A total of 22 stockbroking firms who are dealing members of the Nigerian Stock Exchange (NSE) are to face disciplinary committee of the NSE on Tuesday October 27, 2015 to show cause why they should not be expelled from the exchange.
According to a public notice signed by the NSE Head of legal division and Council secretary, Tinuade T Awe Esq, the 22 firms have been deregistered by the Securities and Exchange Commission and so, face outright expulsion from the stock market.
" At the hearing" declared Awe " the dealing members will be required to give reason why disciplinary action should not be taken against them" by the Council of the NSE.
A total of 20 of them are based in Lagos state. They include AAA Securities; Alliance Capital Management; BFCC Asset & Securities; BIC Securities; Colvia Securities; EPIC Investment; Equator Stockbrokers; Empire Securities and First Atlantic Securities.
Others in Lagos are First Equity Securities; Folu Securities; Midlands Investment and Trust; RIV Trust Securities; Riverside  Trust; SIKON securities; Transglobe securities and Tropics securities.
The two from outside Lagos are Davandy Finance based in Calabar and Midland Capital Markets in Abuja.

NEW MD FOR AIRLINE SERVICES AND LOGISTICS PLC

A new managing Director has been appointed for Airline  Services and Logistics PLC in the person of Mr Laurent Moussard. He replaces Mr Richard Akerele who has retired to become a non-executive director.
NEW COUNCIL SECRETARY FOR NIGERIAN STOCK EXCHANGE
The Nigerian stock exchange has announced the appointment of Mrs Mojisola Ruth Adeola as the new secretary of the council od the exchange.
She takes over from Mrs Irene Robinson who hitherto combined the position of council secretary and head of legal department and reported to Mrs Tinuade Awe who remains NSE's general counsel and  head of the legal division.
Mrs Adeola was, until her appointment, company secretary and legal adviser of Acorn Petroleum PLc.
She obtained her LLB from the University of Lagos and was admitted to the bar in 2005.
With this appointment, Mrs Robinson now oversees the legal arm and, like Mrs Adeola reports to Mrs Awe.



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