Company Admission
- 1 Complete NASD Form 2 (in duplicate).
- 2 Submit completed form and non-refundable fees payable in full at the time of application, accompanied by the listed supporting documents to legalcompliance@nasdng.com.
Markets · Introduce a Company
Equities Admission Process
Access new sources of capital and connect with investors through the NASD marketplace. Our markets provide flexible admission routes designed to support companies at different stages of growth.
About the Equities Market
The NASD OTC equities market provides a regulated venue for trading shares of public companies that are not listed on a traditional exchange. It enables shareholders to access liquidity while allowing companies to build visibility, price discovery, and investor engagement.
Through admission, your company gains exposure to a broad network of investors, market makers, and institutional participants — supported by transparent rules and modern infrastructure.
Best Suited for
- Public companies not listed on another exchange
- Companies seeking liquidity for shareholders
- Organisations funding expansion or projects
Requirements for Admission
Follow these steps to admit your company or security to the NASD Equities Market.
Security Admission
- 1 Complete NASD Form 3 .
- 2 Submit through your broker, along with supporting documents and applicable fees.
Equities Requirements Document
Download the full admission document for detailed disclosure requirements and obligations.
Company Admission Process
Follow these steps to admit your company to the NASD Equities Market.
- Step 1
Pre-Admission
Board appoints Issuing House, fills application, and returns with fee. Board submits signed undertaking to comply with NASD OTC Rules.
- Step 2
Review
NASD will review company structure. After due diligence, NASD will give approval in principle.
- Step 3
Approval & Admission
Company will open a register with CSCS. 100% dematerialisation of shares can commence.
- Step 4
Announcement
Company announces admission to NASD OTC Market. Trading on securities commences.
Security Admission Process
A faster route for admitting individual securities of unlisted public companies.
- Step 1
Indicate Interest
Investor indicates interest to liquidate shares in an unlisted public company and contacts a broker.
- Step 2
Submit Form
Broker fills and submits NASD Form 3 with supporting documents. Administrative fee for code creation is required.
- Step 3
Code Creation
NASD generates a security code and ISIN number in collaboration with CSCS, where the shares are lodged. Following this, NASD informs stakeholders, and trading begins.
FAQs
Some of the commonly asked questions about Company Admission in our Equities Market.
-
What is NASD PLC?
NASD PLC is Nigeria's licensed Over-The-Counter Securities Exchange, regulated by SEC Nigeria. It provides a transparent venue for trading unlisted public securities. -
What services does NASD provide?
NASD operates a regulated OTC trading platform, provides market data and reporting, and supports companies seeking alternative routes to capital and shareholder liquidity. -
How is NASD different from other exchanges?
NASD focuses on unlisted public securities and offers a flexible listing pathway. Compared to a main-board listing, NASD typically has lower entry barriers while maintaining regulatory oversight. -
Who regulates the NASD OTC market?
The Securities and Exchange Commission (SEC) of Nigeria regulates NASD and the issuers admitted on its market. -
What securities can be traded on NASD?
Equities, bonds, commercial papers, and other admitted instruments. See the Admitted Companies page for the current list. -
How are security prices determined on NASD?
Prices are set by the matching of buy and sell orders submitted by licensed brokers, with NASD providing transparent price publication. -
What are the trading hours on the NASD OTC market?
See Hours & Holidays for the current schedule, including any market holidays. -
How are trades settled on NASD?
Trades settle through NASD's clearing arrangements with licensed market intermediaries. Your broker can confirm the timeline for your specific trade. -
Can NASD traded securities be used as collateral?
Subject to lender policy. Several admitted securities are accepted as collateral by Nigerian financial institutions.
Ready to Take the Next Step?
Speak with our team to explore the right market for your company.