Thursday May 10, 2012

This is to remind all Dealing Member Firms that their Quarterly Returns for the Period Ended 31st March 2012 is due on or before 15th May 2012.

Please be informed that based on (Policy No.01 NSE) made pursuant to Article 15(h) of the Rules and Regulations Governing Dealing Member of The Exchange which came into effect on November 1 2011; that failure of a Dealing Member to submit Quarterly Returns on the due date shall attract a penalty of Five thousand Naira only (N5, 000) per day of default and the Dealing member shall be suspended from trading with effect from the first trading day after the due date.

Consequently, you are required to submit the returns to The Exchange on or before the above mentioned due date to avoid regulatory action.

Note that the suspension mentioned above if applied can only be vacated on the submission of the Quarterly Returns and payment of penalty for late submission.

Should you need further clarifications, do not hesitate to contact the Broker Dealer Regulation Department of The Exchange.