By Adedapo Adesanya
The stockbroking arm of Rand Merchant Bank, RMB Nigeria Stockbrokers Limited, has joined the list of brokerage firms authorised to trade shares on the NASD over-the-counter (OTC) Securities Exchange.
The bourse, in an announcement made via a statement last week, stated that investors interest in buying and selling stocks traded on the platform can now do so by getting in touch with RMB Nigeria Stockbrokers.
It was stated that the firm was given the approval to buy and sell stocks on NASD having been inducted on Tuesday, June 2, 2020 as a broker and dealer.
“We are pleased to inform our esteemed stakeholders of the recent introduction of RMB Nigeria Stockbrokers Limited, it was inducted on June 2, 2020 unto our platform to act as a broker/dealer,” the statement said.
The bourse said that despite the present realities caused by the COVID-19 pandemic, it was good to welcome the firm into the folder which has over 200 firms, adding that it was committed to boosting the Nigerian capital market.
“Irrespective of the existing limitations to businesses caused by the pandemic, we have been able to successfully welcome RMB into our community of over 200 stockbrokers by actively leveraging technology to ensure a seamless continuity of our business operation on the OTC market.
“In furtherance of our objective to deepen the Nigerian Capital Market, we look forward to a fruitful partnership with RMB Nigeria Stockbrokers Limited,” the statement noted.
Rand Merchant Bank established its stockbroking firm, RMB Nigeria Stockbrokers Limited, in Nigeria in 2018 to offer a strong distribution platform for the bank and diversify its earning base.
Dipo Olowookere