LMC, NASD Hold Talks on Listing NPFL Clubs in 2nd Tier Exchange

By Daily Sports on June 17, 2016

The League Management Company (LMC) and NASD Over the Counter (OTC) Securities Exchange met in Lagos to explore strategies and means to transform Nigeria Professional Football League (NPFL) Clubs ownership from governments to community-based and public subscription ownership.

At the meeting which held at the NASD OTC Corporate headquarters inside the UBA House in Marina, Lagos were the Chairman of LMC, Shehu Dikko, Head of Special Projects, Mr. Harry Iwuala and the project advisor, Tanko Osamwonyi, and the NASD team led by the Managing Director and CEO, Mr. Bola Ajomale and the IT/Operations Manager, Gbubemi Iyomere.

 In his opening remarks, Dikko said the purpose of the visit was to partner with the Securities Exchange firm and leverage on its network within corporate Nigeria to create awareness for the inherent commercial and social investment opportunities in the football industry.

"In the football league, we can count about 28 sub businesses across associated value chain that can stimulate growth in the economy, drive employment and reduce youth delinquency in the society but we need to harness the potential of our football as a business to open this opportunities", Dikko posited.

NASD PLC is the promoter of a Trading Network that eases secondary market trading of all securities of unquoted public companies primarily in Nigeria but with a focus to the West African region.

He said "the LMC will provide the necessary support to the NASD that will facilitate the listing and or sell of the NPFL Clubs shares on the NASD OTC Exchange with a long term objective of turning clubs' ownership structure to largely supporters-based as is the case of Real Madrid and Barcelona of Spain, Al Ahli of Egypt and Boca Juniors of Argentina as well as providing options for equity investment into the clubs by private investors"

In his response, Ajomale said that both organisations could not have met at a better time than now and noted that one of the cardinal reasons for the setting up of the NASD is to stimulate growth by easing the capital raising processes.

 "Our market is not inside the boardrooms but on the streets where we seek to encourage Small and Medium Enterprises (SME), Cooperatives and others to trade on the exchange", the NASD Director said. He further said the NASAD would gladly liaise with the regulators ( SEC ) to seek approval to set up special and institutionalise products for club ownership model that would be attractive and drive private investors to the NPFL.

The two organisations reached an understanding in principle to work towards actualising a mutually beneficial relationship.

Photo... From left at the talks between the League Management Company (LMC) and NASD Plc, Harry Iwuala, LMC Head of Special Projects, Shehu Dikko, LMC Chairman, Bola Ajomale,

MD/CEO, NASD, Gbubemi Iyomere, NASD, Manager IT/Operations and Tanko Osamwonyi, Project Advisor.

Text gotten from thenff.com

Source Daily Sports

Posted June 17, 2016


 

You may also like...
NPFL Matchday 3: FC Ifeanyi Uba Host Rivers...

Man City pull plug on Alexis

Bayern Will Not Make January Bid For Sane...

Sports Minister to probe Super Falcons’ unpaid bonuses...

Pape Diouf Dies After Contracting Coronavirus

Richarlison Out For Several Weeks Due To Calf...

 

Latest News CAF awards: Ajibade, Nnadozie, Edo Queens bag nominations Lagos SWAN, PAACC Hold SWAN Day At Golfview Hotels, Ikeja Crisis looms as Eagles’ form raises AFCON, W’Cup concerns Ex-Nigerian Super Falcons player handcuffed, children assaulted as police storm Anambra Football Academy Sports NFF, teammates console Nwabali on father’s death Abia Govt hails Nigeria Olympic Committee over staging an admin course in Umuahia Libya deliver Eagles 2025 AFCON ticket Eagles battle Cheetahs for 2025 AFCON ticket Yellow Greens gear up for T20 W’Cup qualifiers Tyson tips Fury to beat Joshua Sadiq absent as 22 Eagles train in Abidjan Eagles’ striking trio hot for Cheetahs, Amavubi clashes

 

Most Read Rangers International going, going . . . (55,164 views) Amaju Pinnick: A cat with nine lives (46,308 views) Second Term: Amaju Pinnick, Other NFF Heavyweights Home to Roost •How Pinnick Broke the Jinx (44,370 views) Missing $150,000 IAAF Grant: Solomon Dalung’s Hide and Seek game (44,015 views) Sports Development: Zenith Bank on the zenith (43,948 views) Current issues in Nigerian sports: Matters arising (43,904 views) Gov. Abdullahi Ganduje’s solid footprints, commitment to sports development in Kano State (43,744 views) NFF Presidency: Pinnick, Maigari, Ogunjobi, Okoye in Battle for Supremacy (43,312 views) Olopade, BET9A wave of revolution in NNL (42,366 views) Commonwealth Games 2018: Shame of Muhammadu Buhari, Solomon Dalung (41,054 views) Ibrahimovic’s Man U exit: Whose decision is it? And in whose interest? (39,507 views) John Mikel Obi: Segun Odegbami’s Outrageous Call! (38,932 views)

 

Phone numbers

Tel: +234(0)8066020976
+234(0)8055068145
+234(0)7013416146
+234(0)8094272884

Email addresses

info@dailysportsng.com
support@dailysportsng.com
publisher@dailysportsng.com

Office address

No 3, Adetoun Close, Off College Road, Ogba, Ikeja Lagos.
Website: www.dailysportsng.com

Social Media