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Foreign Stock Craze Prompts Nigeria to Tighten Leash on Brokers Emele Onu, Bloomberg News Employees work at a computer terminal on the trading floor at the Nigerian Stock Exchange (NSE) in Lagos, Nigeria, on Tuesday, April 2, 2019. The International Monetary Fund said Nigeria’s economy was growing too slowly to reduce poverty or joblessness and urged the government to boost revenue and scrap its system of multiple exchange rates. Photographer: Ruth McDowell/Bloomberg , Bloomberg (Bloomberg) -- Nigeria is taking another stab at trying to...

Nigeria seeks to reduce demand for foreign stocks with new tightened rules for local brokers Nigeria is once again trying to calm demand for foreign stocks through tighter regulatory oversight of local brokers. The Abuja-based Securities and Exchange Commission now plans to register brokers selling shares of foreign companies as more Nigerians cram assets to protect against inflation and currency weakness. An effort earlier last month met with locals resistance, turning on them after warnings alerting people to the risks and threats to sanction local traders. Read: Nigerians Avoid Naira For ...