Abuja Securities and Commodities Exchange – ACSE
Abuja Commodities and Securities Exchange is Nigeria’s second-largest stock exchange with headquarters in Abuja, Nigeria. It has been founded on June 17 1998. The ASCE started e-commerce in May 2001 and became the Nigeria commodity exchange (NCX) under the direction of the Federal Commerce Ministry. This stock exchange has the particularity of being involved in the negotiation of base products such as maize, sorghum and millet.
The following actors are involved in the ASCE market:
- Agricultural policies: The strategy in question here is for the government to identify a food crop widespread in each area of the federation in order to encourage each of the zones to stimulate the production of these food crops. The goal is not to cultivate the food crop alone for local consumption, but mainly for export.
- Solid minerals policies: Promote efforts aiming to stimulate the solid minerals sector.
- Trading Rules and Regulations: Refers to the financial institutions, the transformers and the traders of business execution having the right to execute trades on the stock market floor for the negotiation of raw materials.
- Warehouse Rules and Regulations: is an independent commercial warehouse registered and authorized by the stock exchange, SEC or any other regulatory organization established by a law of the National Assembly to accept storage products and deliver certificates, warehouse receipt for the real owners account.