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Some operators at the Nigerian capital market have appealed to
the Securities and Exchange Commission (SEC) to give a “full disclosure” of the
Nigerian Stock Exchange’s (NSE’s) audit.

Market operators are making this appeal following the
announcement by Arunma Oteh, SEC’s director general, last Friday, in London,
that she expects to publish a KPMG Stock Exchange audit in about six weeks.

Olugbenga Emmanuel, a finance analyst at WealthZone Company, a
portfolio management firm, said, “The Exchange community expects the SEC to do
a full disclosure of the NSE financial results. We don’t want a situation like
what happened to the banks then when they used to publish some parts of their
results while other parts will not be made public.

“Full disclosure will help the market generally in terms of
confidence because everybody will be able to analyse the result,” Mr. Emmanuel
said.

David Amaechi, an executive member of the Shareholders
Association of Nigeria, said the publication of the Exchange’s financial report
“will further help the Exchange Commission to achieve its aim of restoring
investors’ confidence in the market.”

Mrs. Oteh had said last Friday that the widespread anger over
the market collapse, together with press attention on former stock exchange
head, Ndi Okereke-Onyuike, meant there was little choice but to publish the
audited results.

“I’m hoping I will get the interim report on Monday (yesterday).
I hope we will complete the whole process in about six weeks. You have a high
profile former director-general who believes she should not have been removed.
You have a lot of people who have lost money. I haven’t made any public
statements about making the report public, but I almost think I have no
choice,” she said.

Market parameters

Meanwhile, at the close of proceedings on Monday, the two
parameters for measuring performance at the NSE, the market capitalisation and
the All-Share Index, depreciated by a 1.13 percent.

The market capitalisation, yesterday, recorded over N66 billion
losses on Wednesday’s figure of N5.832 trillion, to close at N5.766 trillion;
while the All-Share Index lost 271.24 points down from 23,802.79 basis points
to close at 23,531.55.

The number of gainers at the close of trading session closed
lower at 18, compared with the 24 gainers recorded last Wednesday, while losers
closed higher at 43, compared with the 39 losers recorded the previous trading
day.

Julius Berger and Wapco Cement topped the price gainers’ chart
yesterday, with an increase of N1.52 and N1.50 on their opening prices of
N55.98 and N35.00 per share respectively. On the flip side, Oando and Dangote
Flour Mill topped the losers’ chart with a decrease of N2.95 and 89 kobo, to
close at N56.20 and N17.01 per share respectively.

The banking sector led the market transaction volume on Monday
with 140.17 million units valued at N1.08 billion, exchanged in 2,718 deals, as
against 117.83 million units valued at N1.01 billion, exchanged in 3,458 deals
recorded last Wednesday.

Meanwhile, the Exchange’s management yesterday marked down the
prices of six companies for dividends and bonuses.

Flourmill was marked down for a dividend of N2.00 and a bonus
one for 10 owned by its shareholders, while payment date is 3rd November 2010;
Nigerian Bags Manufacturing for a dividend of 13 kobo, payment date is 2nd
November 2010; Northern Nigeria Flour Mills for a dividend of 80 kobo bonus one
for five, payment date is 3rd November 2010.

Also, Academy Press was marked down for a dividend of 7 kobo and
a bonus one for three, payment date is 19th October 2010; Seven-Up for a
dividend of N1.75 bonus one for four, payment date is 19th October 2010; Law
Union & Rock for a dividend of 3 kobo, payment date is 4th October 2010.