Financial Terms

May 1, 2019 by  
Filed under Nigeria Stock Exchange

Whistle blowing – The act of reporting insider knowledge of illegal activities that occur in an organization that is publicly owned (listed on a securities exchange). A whistle blower can be an employee, investor, supplier, contractor, client or any individual who somehow becomes aware of illegal activities taking place in a business, either by witnessing the activity or by being told about it. Whistle blowing can typically by done anonymously, and whistle blowers are almost always protected from retaliation under various programs of securities exchanges or their regulators. The NSE’s X-Whistle (whistle blowing program) aims to rid the market of infractions and misconduct.

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