Starcomms delisted from Nigerian Stock Exchange

27 Nov 2014

The Nigerian Stock Exchange (NSE) has delisted defunct CDMA network operator Starcomms for failing to regularise its listing status. In June the NSE published a notice of its intention to delist 24 listed companies that had not complied with provisions of the listings rules, giving them a three-month period to regularise their listing status. Nine of those companies, including Starcomms, failed to take the appropriate steps to remedy the situation, and last month the Exchange issued a Final Notice of Delisting. Leadership reports that the NSE has now delisted Starcomms effective 24 November 2014, after the firm failed to comply with its listing obligations.

In other news, the Nigerian Communications Commission (NCC) has established a committee to look into how consumers could be compensated by service providers for inadequate quality of service (QoS). BiztechAfrica cites Maryam Bayi, director of the Consumers Affairs Bureau, as saying that telecoms operators have been given until January 2015 to draw up proposals on how consumers can be directly compensated if they are affected by poor QoS.