SEC okays Conoil, others for margin lending

Ms. Aruma Eteh
The Securities and Exchange Commission, SEC, has approved   the shares of Conoil Plc, Nigerian Breweries (NB) Plc and that of 15 other quoted companies on the Nigerian Stock Exchange , NSE, to be used by investors for   margin lending activities.

Vanguard gathered that the margin lending list, as released by SEC, was based on the Commission’s rules and guidelines which it instituted with a view to curbing excessive speculative activities of investors. The list is composed of securities which shares have been adjudged by the Commission to have enough liquidity and fundamental strengths to serve as margin securities.

Conoil is one of Nigeria’s foremost petroleum products marketing company, famous for its high performance and sustained impressive profitability over the years and with record of robust returns on investment.

The company, with an expansive storage capacity and retail network, is a service provider in the areas of aviation fuel, lubricants and liquefied petroleum gas (LPG).

SEC recently released the list of quoted companies which shares could be used in margin lending and transactions, with a caution that only investors and persons with adequate knowledge of margin lending should engage in it.
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