Nigerian Stockbrokers Limited (‘NSL’) was incorporated as the first stockbroking firm in Nigeria on 26th September 1960. Prior to the implementation of the Nigerian Enterprise Promotion Act 1972 (‘Indigenisation exercise’) NSL was wholly owned and managed by Financial Holdings Nigeria Limited (‘FHNL’). Following the Indigenisation exercise, the interest of FHNL was transferred to some Nigerian citizens and association. NSL is, therefore, a wholly owned Nigeria company.
The Authorised Share Capital of the Company is N750.00 million divided into 1,500,000,000 Ordinary shares of 50K each out of which N313million are issued and fully paid-up. Institutional investors show a strong presence among the shareholders and this has been one of the major factors for the continued strength and stability of the Company. The breakdown of the shareholding structure is as follows: