The Nigerian Exchange Limited (NGX) has officially announced the closure of its Alternative Securities Market (ASeM) Board, effective July 1, 2025, according to a disclosure in its weekly market review published on Friday, October 10.
This decision marks the end of an era for the board, which was designed to serve small to mid-sized companies with growth potential but less stringent listing requirements.
The ASeM Board was created by the NGX to provide a platform for emerging companies to access the capital market without the rigorous financial and corporate governance standards demanded by the Main Board. It aimed to support entrepreneurship, particularly among indigenous businesses, by offering a more accessible listing process.