The Nigerian Stock Exchange, NSE, have suspended trading on the shares of Resort Savings and Loans, a mortgage banking institution following orders received from the Securities and Exchange Commission, SEC.
The bourse through a notice of full suspension said: “The Securities and Exchange Commission (SEC) has directed The Nigerian Stock Exchange (“The Exchange”) to place the shares of Resort Savings & Loans Plc on full suspension.
“In compliance with the provisions of Section 35 of the Investments and Securities Act, 2007 and in order to give effect to the above directive, The Exchange has placed a full suspension on trading in the securities of Resort Savings and Loans Plc effective, Tuesday 06 December 2016” adding that “The suspension will remain in force until further directives from the SEC,” Worldstage reports.
