At the NSE a market Surveillance Department was created to ensure that the Exchange is meeting its oversight responsibilities by conducting daily and other routine surveillance of trading activity on the facilities of the Exchange. Surveillance personnel make use of Exchange surveillance systems in performing their reviews. Investigators in the Surveillance Department focus their efforts on ensuring compliance with various Exchange rules. Particular areas of emphasis include the Investment and Securities Act, 2007 (ISA) N0. 105 – 106 and Articles 103 - 107 provisions as stipulated on the rules and regulations governing Dealing members.
Furthermore, Surveillance investigators also conduct regular reviews trading activity within the Exchange’s Matching System for various forms of manipulative or deceptive conduct. The Surveillance Department also reviews trading activity on the Exchange for potential violations of insider trading prohibitions. Indications of potential violations may be referred to the appropriate arms for necessary action.
One of the methods to be used for market surveillance would include whistle blowing. A whistleblower is a person who drops a hint about alleged dishonest or illegal activities (misconduct) occurring in an organization. The alleged misconduct may be classified in many ways; for example, a violation of a law, rule, regulation and/or a direct threat to public interest, such as fraud, health/safety violations, and corruption. Assistance and information from a whistleblower who knows of possible securities law violations can be among the most powerful weapons in the market surveillance arsenal of the Nigerian Stock Exchange. Through their knowledge of the circumstances and individuals involved if possible, whistleblowers can help the Exchange identify possible fraud and other violations much earlier than might otherwise have been possible. That allows the Exchange to minimize the harm to investors, better preserve the integrity of the markets, and more swiftly hold accountable those responsible for unlawful conduct.
We greatly appreciate your interest, and we hope that this resource on the website would be fully utilized.
We understand that the decision to come forward with information about securities fraud or other wrongdoing is not one taken lightly, and we are here to answer any questions you may have.
The Exchange requires intelligence to be able to discharge this enormous task and position The Exchange serves as a gateway to African frontier market driven by liquidity and integrity.
For tips on Whistle Blower, please click here
If you have any further questions, please contact us via mail or fax:
Market Surveillance Department
The Nigerian Stock Exchange
Custom Street, Lagos
Call Center: 0700CALLNSE (07002255673)