Thursday, February 21, 2013

FG invites Ethiopia, World Bank to restructure Abuja Commodities Exchange

(Feb 21, 2013, Vanguard, Nigeria)--The Federal Government has invited experts from Ethiopia Commodities Exchange and the World Bank to assist in the restructuring of Abuja Securities and Commodities Exchange (ASCE). It will be recalled that the White Paper of Odife report gave birth to the Abuja stock exchange.

However, pressure from some quarters that the nation should not have two exchanges in Nigeria gave way to the establishment of the Commodity Exchange from the initial Abuja Stock Exchange.

The Minister of Trade and Investment, Mr. OlusegunAganga, who disclosed this during the week, said the revitalisation of ASCEwill help local farmers to make more income from their farm produces. “In order to achieve this, the ministry brought in experts from the Ethiopia Commodities Exchange and also sought the support of the World Bank.

They came in and looked at what we have, and then made proposals for which the ministry had set up a committee known as the Technical Working Group comprising executives of the Commodities Brokers Association of Nigeria (CBAN),” said Aganga. Read more from Vanguard, Nigeria »

Related topics:
Forex Bonds Floated for Diaspora
Ethiopia Sells Bonds to Finance Africa’s Biggest Power Plant 
Africa Rising: Economic progress vs. cultural preservation in Ethiopia

No comments:

Post a Comment