{"id":45944,"date":"2021-01-08T15:25:48","date_gmt":"2021-01-08T14:25:48","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=45944"},"modified":"2021-01-08T15:25:48","modified_gmt":"2021-01-08T14:25:48","slug":"nigerian-stock-exchange-inaugurates-its-claims-review-panel","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/nigerian-stock-exchange-inaugurates-its-claims-review-panel\/","title":{"rendered":"Nigerian Stock Exchange Inaugurates Its Claims Review Panel"},"content":{"rendered":"<p>In preparation for its imminent demutualisation, the Nigerian Stock Exchange (\u201cThe Exchange\u201d) inaugurated its Claims Review Panel (the Panel) on 21 December 2020, pursuant to the provisions of the Demutualisation of The Nigerian Stock Exchange Act 2018 (the \u201cAct\u201d).<\/p>\n<p class=\"yiv2183715595MsoNormal\">The Panel serves as an independent alternative dispute resolution mechanism for the review and determination of Claims made by individuals or entities in respect of any assertion of rights in the shares of the demutualised Exchange i.e. Nigerian Exchange Group Plc (\u201cHoldCo\u201d). The Panel will sit in an appellate capacity and review Claims from Claimants\u2019 who are dissatisfied\u00a0 with any decision of the National Council of The Exchange on a Claim\u00a0 pre-demutualisation, or the Board of Directors of the HoldCo , post demutualisation of The Exchange.<\/p>\n<p class=\"yiv2183715595MsoNormal\"><span lang=\"EN-ZA\">As part of the demutualisation process, The Exchange (which is currently a company limited by guarantee) would be converted into and re-registered as a public company limited by shares.\u00a0<\/span>Consequently, current Members of The Exchange will be allocated shares in the HoldCo.\u00a0<span lang=\"EN-ZA\">The securities exchange license of the current Exchange would be transferred to Nigerian Exchange Limited, a wholly owned subsidiary of the HoldCo, which would carry on the securities exchange business. Another wholly owned subsidiary, NGX Regulation Limited, would be licensed by the Securities and Exchange Commission (SEC), to carry out regulatory services.<\/span><\/p>\n<p class=\"yiv2183715595MsoNormal\">To safeguard the independence of the Panel, and following a diligent search for distinguished individuals with the required expertise and extensive track records of integrity, excellence and achievements in their respective fields of specialisation, The Exchange is pleased to announce the appointment of the following members of the Panel:<\/p>\n<p class=\"yiv2183715595MsoListParagraphCxSpFirst\">1.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Mr. George Etomi (Chairman)<\/p>\n<p class=\"yiv2183715595MsoListParagraphCxSpMiddle\">2.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Mr. Seni Adio, SAN<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p class=\"yiv2183715595MsoListParagraphCxSpMiddle\">3.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Mr. Abatcha Bulama<\/p>\n<p class=\"yiv2183715595MsoListParagraphCxSpMiddle\">4.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Dr. Paul Anababa, SAN<\/p>\n<p class=\"yiv2183715595MsoListParagraphCxSpLast\">5.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Prince Aghatise Erediauwa<\/p>\n<p class=\"yiv2183715595MsoNormal\">At the Panel\u2019s inauguration on 21 December 2020, Otunba Abimbola Ogunbanjo, President, The Nigerian Stock Exchange, said he \u201cexpected\u00a0<span lang=\"EN-ZA\">members of the Panel to discharge their responsibilities without any fear or favour in an objective and dispassionate manner, being guided by principles of fair hearing, equity and natural justice\u201d.\u00a0\u00a0<\/span><span lang=\"EN-ZA\">He expressed optimism that the Panel would diligently carry out its functions and responsibilities under the Act and that each member would bring to bear their respective experience and expertise to enrich deliberations and decisions.<\/span><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>In preparation for its imminent demutualisation, the Nigerian Stock Exchange (\u201cThe Exchange\u201d) inaugurated its Claims Review Panel<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":37938,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[7992],"coauthors":[2391],"class_list":["post-45944","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-nse-review-panel"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - 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