At a press briefing on the situation in the Lagos capital market, stakeholders under the auspices of the Chartered Institute of Stockbrokers (CIS), Association of Stockbroking Houses of Nigeria (ASHON) and Association of Issuing Houses
of Nigeria (AIHN) asked the Central Bank of Nigeria (CBN) to establish a N200 billion intervention fund for market makers as a short-term measure to stave off the downward trend orchestrated by selling foreign portfolio investors.
One of the stakeholders, an immediate past council member and chairman of Association of Issuing Houses
of Nigeria (AIHN), Victor Ogiemwonyi, believes the new president can be trusted to deliver as he had taken active part in the affairs of the NSE since he came on board last year.
It's almost 23 billion Naira larger than the previous large issue which is also by Lagos state," a representative of the joint issuing houses
and book runners to the deal, Bolaji Balogun, told journalists shortly after the deal was struck.
These funds come from private investors, insurance companies, banks, pension funds arranged by issuing houses
and merchant banks, he added.
These include, among others, developing a prospectus, identifying underwriters and issuing houses
, and selecting the stockbrokers.
Kathleen Burk is particularly strong on the processes of privatization and in showing how information flowed and leaked among merchant banks, issuing houses
, the steel companies, the Bank of England, and the government.