​​INTERPRETATIVE GUIDANCE 

NSE Regulation
The Nigerian Stock Exchange (The Exchange or NSE), as a Self-Regulatory Organisation,​ is empowered to make Rules and Regulations to guide its members and conduct within its market. 

The Exchange, in carrying out its rule making f​unction, seeks to promote just and equitable principles of trade, remove impediments to and improve the mechanism of a free and open market; and protect investors and the public interest. 

To enhance this function, The Exchange often attends to requests for clarification of certain aspects of its Rules from stakeholders. Often, these requests for clarification seek to determine whether specific conduct is permitted or prohibited or whether an interpretation accords with The Exchange’s intent with respect to a specific rule or regulation. 

For a number of reasons, including: 
(i) the negative consequences that may accrue for violations of The Exchange’s Rules and Regulations; 
(ii) engendering transparency with respect to The Exchange’s regulatory framework; and 
(iii) providing the benefit of The Exchange’s interpretation to an audience broader than those who specifically request it, 
The Exchange has decided to forthwith adopt the practice of releasing Interpretative Guidance to market participants and stakeholders in appropriate cases.  ​Read more about the ​Interpretative Guidance of The Exchange and their Naming Convention​​.