Nigerian Stock Exchange Or Lagos Stock Exchange? Fashola Mulls

The Lagos state governor Babatunde Raji Fashola has condemned at the end of the technical session of the 10th Lagos Executive/Legislative parley the act of dormant look        to the 1977 decree which changed the Lagos Stock Exchange to Nigerian Stock Exchange which is inconsistent with the global standards. He further stressed that most countries around the world name their stock exchanges after their host cities.

This is an old fashion whereby legislations were passed during the military era when there was no legislative arm of government and the executive appropriated the power to make laws for Nigeria to itself. This must have changed, the Senior Advocate of Nigeria (SAN) lamented.

The Lagos Stock Exchange as it started out became the Nigeria Stock Exchange in a unification move during the military era but it is prime time for the nation to go back to what is best global practice.

 We have the Johannesburg, Paris, New York and we don’t have the American Stock Exchange or German Stock Exchange rather there is New York Stock Exchange, Frankfurt Stock Exchange and so on.

Furthermore, "there is nothing like the British Stock Exchange, but the London Stock Exchange” he adds, noting that a similar trend should be followed in Nigeria to be consistent with best global practices.