The Nigerian Stock Exchange (NSE) has reduced their transaction charges on trade equities to 0.5 percent. The costing structure has already been put in place.
Purchases and sales of secondary market Equities will be impacted by this change. Central Securities Clearing Systems (CSCS) costs are also to be reduced shortly.
This follows the Federal Government’s directive that a five per cent Value Added Tax (VAT) be charged on the selling and buying of the shares on the secondary market.
“The Exchange has reduced its transaction charge from 0.65 to 0.5 percent,” says Sola Oni, a spokesman for the NSE. “The Central Securities Clearing Systems Limited (CSCS) will soon follow suit by reducing its fees on secondary market transactions from 0.47 per cent to 0.14 per cent; this will be confirmed after a Board meeting to be held in April”