The Disciplinary Committee of the Nigerian Stock Exchange, NSE, has summoned 15 stockbroking houses for failure to activate their dealer member licences.
The NSE said the members would appear before the committee on July 27 to give reasons why disciplinary action should not be taken against them.
The Nigerian bourse said: “In the event of a failure to honour this invitation, the Disciplinary Committee shall proceed with the hearing and make such decisions and issue such directives as it deems fit.”
Market analysts said failure of the firms to appear may lead to the withdrawal of the licences.
The firms are: Al-Pina Investment & Trust Comany Limited, BBL Asset Management Limited;Integrated & Allied Securities Limited; Multi Trust Securities Limited; Standard Chartered Securities Limited; Translux Services Limited; Afro-Arab Investment Limited; Barakat Investment Limited; Bosson Capital Assets Limited; Dealers Assets Management Limited; Enabell Capital & Investment Limited;First Express Limited; KFF Worldwide Solutions Limited; Kingdom Securities Limited and Silver & Gold Securities Limited.
The NSE, had last week also revealed plan to delist three companies for failure to regularize their listing status. The companies include: Nigerian Sewing Machine Manufacturing Plc, Stockvis Plc and Nigeria Wire & Cable Plc.