The governor made this known while speaking to journalists at the end of the technical session of the 10th Lagos Executive/Legislative parley, where he noted that across the world, stock exchanges are named after their host cities.
The Senior Advocate of Nigeria (SAN) suggested that it is the time to take a second look at legislations that were passed during the military era when there was no legislative arm of government and the executive appropriated to itself the power to make laws for Nigeria.
He explained that it was during the military era that the Lagos Stock Exchange as it started out, became the Nigeria Stock Exchange in a unification move, underscoring the need for the nation to go back to what is best global practice.
The governor said, “I think the time has come for us to begin to look at the legislation that was passed during the military administration that is decrees and acts. I think that was when the Lagos Stock Exchange became the Nigerian Stock Exchange, in unification for the country.”
“Perhaps there is the need for us to go back to what is best global practice because we have the Johannesburg, Paris, New York and we don’t have the American Stock Exchange or German Stock Exchange while there is a Frankfurt Stock Exchange and so on.”
“There is nothing like the British Stock Exchange, but the London Stock Exchange” he adds, noting that a similar trend should be followed in Nigeria consistent with best global practices.
“Those are issues that some of the legislators will take on board to their various legislative bodies” he said for all the legislators representing Lagos state at both state and national assembly. Click to signup for FREE news updates, latest information and hottest gists everyday
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You are correct sir. Emeka
ReplyDeleteBe careful Egbon, it is easy for the present Federal Gov to have ASE. (Abuja Stock Exchange). Lagos is proud hosting a National Treasure, What's in a name anyway? and the amount of money to be wasted for the transition!!!!!!. Sir; I hate to disagree with you but on this occasion, 'disagree' I must. There are more poignant things to be agitating for eg having own state police force, taking control of federal roads and getting some traffic law enforcement officers to actually do some work rather than bunch up gossiping at congested junctions just to mention a few. GodHelpNigeria.
ReplyDeleteIt seems as if you have finished addressing and solving all the problems of Lagos state and what remains is to bring up controversial issue. I like your priority. Please let Lai Mohammed issue a press statement on this soonest.
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