​​MARKET SURVEILLANCE

NSE Regulation
The Nigerian Stock Exchange is committed to maintaining a fair and orderly market. The Market Surveillance Department is a key unit within the Regulation Division and its mission is to protect the integrity of the capital market from fraud, manipulation and abusive practices. The Market Surveillance team closely monitors all market activity on the exchange to cultivate an open, competitive, transparent, and financially sound market.
 
The NSE utilizes a robust surveillance system in identifying and investigating potential market abuse that may violate NSE rules and securities laws.
Areas of focus include:
  • Inside trading
  • Market Manipulation and abuse
  • Pump and Dump
  • False press release
  • Paid promotions or analyst recommendation
  • Churning
  • Circular or triangular trade
  • Front running
  • Violations of rules governing members' on-Floor trading
 
In 2014 NSE established X-Whistle. This Whistle Blowing portal is a vehicle for the secure and effective submission of information relating to violations of rules and regulations on the Nigerian Capital Market. An effective whistle-blowing procedure allows any person on an anonymous basis to alert the Exchange that may involve manipulation, or attempted manipulation, of the specified benchmark it administers. With X-Whistle the NSE can allow employees, shareholders and stakeholders to raise any concerns about unethical or unlawful conduct while maintaining the highest standards.
 
 In 2013, The Nigerian Stock Exchange joined the Inter-market Surveillance Group (ISG). ISG is an international group comprising of securities exchanges, market centers and market regulators that perform front-line market surveillance within their respective jurisdictions. The NSE's membership validates our strong commitment to operating at high standards.
 
If you have any further questions, please contact us via mail or fax:
 
Market Surveillance Department
The Nigerian Stock Exchange
Custom Street, Lagos
Fax: +234-1-2668724
Call Center: 0700CALLNSE (07002255673)

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