The Nigerian Stock Exchange (NSE) has issued Rules which impose certain requirements on listed companies regarding any transactions with related and other interested parties. The Rules were approved by the Securities and Exchange Commission (SEC) in May 2014 and published in November 2014.
Under the Rules, listed companies are to disclose transactions with interested persons in the financial statements and also make formal disclosure to the NSE.
The Rules have been created to guard against the risk that interested persons could influence listed companies, their subsidiaries or associates to enter into transactions that would adversely affect the company or its shareholders.
Read our alert for details Download PwC Tax Alert_NSE related parties rules.
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