A bill seeking to establish the Fintech Regulatory Commission has passed its second reading at the House of Representatives. The bill, sponsored by Fuad Laguda, an All Progressives Congress (APC) lawmaker from Lagos, scaled the second reading during Tuesday’s plenary. Leading the debate, Laguda said the commission is needed to oversee and regulate Nigeria’s rapidly […]
Emomotimi Agama, director-general of the Securities and Exchange Commission (SEC), has been elected vice-chairman of the Africa/Middle East Regional Committee (AMERC) of the International Organisation of Securities Commissions (IOSCO). The SEC announced the development in Abuja on Sunday, noting that Agama will serve on the IOSCO board — the organisation’s highest decision-making body — until […]
BY TEMITOPE ADEBAYO The Securities and Exchange Commission (SEC) has called for urgent and deliberate action to deepen financial inclusion in Nigeria through investment-led strategies, warning that failure to act could worsen inequality and economic instability. Speaking at the United Capital Asset Management Investment Forum in Lagos, SEC Director-General, Dr Emomotimi Agama, said Nigeria stands […]
BY TEMITOPE ADEBAYO The Securities and Exchange Commission (SEC) has prohibited Independent Directors from transitioning into Executive Director Roles within the same company or group. In a circular to public companies and capital market operators titled “Circular to All Public Companies and Capital Market Operators on the Transmutation of Independent Non-Executive Directors and Tenure of […]
BY TEMITOPE ADEBAYO The Securities and Exchange Commission (SEC) has ordered public companies and their Registrars to halt the wrongful classification of over N200 billion worth of unclaimed dividends as statute-barred, particularly those declared before the enactment of the Finance Act 2020. In a circular issued by the Commission, the SEC raised concerns that many […]
BY TEMITOPE ADEBAYO The Securities and Exchange Commission (SEC) has restated that CBEX (Crypto Bridge Exchange), operating under the corporate name of ST Technologies International Ltd, also known as Smart Treasure or Super Technology, remains banned from operating in Nigeria due to its lack of registration and authorisation by the Commission. In a public notice […]
BY TEMITOPE ADEBAYO The Securities and Exchange Commission (SEC) has warned Nigerians against investing in Punisher Coin, also known as $PUN, describing it as an unregistered and highly risky digital asset designed to lure unsuspecting investors into a potential pump-and-dump scheme. In a public notice issued by the Commission, the SEC raised alarm over ongoing […]
BY TEMITOPE ADEBAYO The Securities and Exchange Commission (SEC) has warned the public against investing in unregistered investment schemes, including Silverkuun Investment Cooperative Society/Silverkuun Limited. In a circular issued in Abuja, Wednesday, the commission said its attention had been drawn to the activities of these entities, which falsely present themselves as investment advisers and fund […]
BY TEMITOPE ADEBAYO The Securities and Exchange Commission (SEC) has ramped up its fight against Ponzi schemes in Nigeria, vowing to take decisive action against illegal fund operators while educating the public to prevent further victimisation. At an awareness campaign held at the Dei-Dei Building Materials Market in Abuja, the SEC emphasised its commitment to […]
..CAC, EFCC papers not licensed for investment operations- Agama BY MOTOLANI OSENI The Securities and Exchange Commission (SEC) has uncovered another suspected illegal investment platform, Tofro.com, warning Nigerians to steer clear of its deceptive cryptocurrency operations. The platform, according to the Commission, is neither registered nor regulated by the SEC and exhibits the hallmarks of […]
BY TEMITOPE ADEBAYO The Securities and Exchange Commission (SEC) has urged Nigerians to report any suspected illegal investment schemes to the commission for proper investigation and necessary action. In a notice issued yesterday, the SEC warned the investing public about the significant dangers posed by Ponzi investment schemes, which threaten the growth of the capital […]
BY TEMITOPE ADEBAYO The Lagos Chamber of Commerce and Industry (LCCI) has stated that, despite a decline in food inflation, the government must maintain its focus on boosting food production through ongoing policy reforms and prompt actions, especially following the declaration of a national emergency on food security. Nigeria’s inflation rate rose to 24.23 per […]
BY TEMITOPE ADEBAYO The Securities and Exchange Commission SEC is to collaborate with the Small and Medium Enterprises Development Agency of Nigeria to implement joint nationwide sensitization campaigns on “Financing SMEs through the Capital Market.” Director General of the SEC, Dr. Emomotimi Agama who stated this during a meeting with SMEDAN in Abuja, Tuesday, said […]
BY TEMITOPE ADEBAYO The Securities and Exchange Commission (SEC) has declared that under the newly enacted Investments and Securities Act, 2025 (ISA 2025), any digital asset exchange or online foreign exchange trading platform operating without registration is now illegal in Nigeria. Signed into law by President Bola Ahmed Tinubu, the legislation introduces a sweeping overhaul […]
BY TEMITOPE ADEBAYO The Securities and Exchange Commission (SEC) has said, the Investments and Securities Act 2025 is a game changer that has the strong potential for stimulating growth for the Nigerian capital market and the economy. The director-general of SEC, Dr. Emomotimi Agama stated this during an interview in Abuja on some of the […]
BY TEMITOPE ADEBAYO The Securities and Exchange Commission (SEC) said, it has cancelled the registration of Mainland Trust Limited and the suspension of Centurion Registrars. The commission, in separate circulars issued at the weekend said, the sanctions were imposed following the failure of both firms to comply with regulatory directives. The circular on Mainland Trust […]
BY TEMITOPE ADEBAYO The Securities and Exchange Commission (SEC) is set to launch an investor education campaign aimed at helping state governments across Nigeria explore wealth creation opportunities in the capital market. SEC Director General, Dr Emomotimi Agama, disclosed this during a meeting with a delegation from the World Bank Group and the International Finance […]
BY TEMITOPE ADEBAYO The Securities and Exchange Commission (SEC) has expressed its readiness to improve the regulatory framework as it regards borrowing by governments and corporates. The director-general of the commission, Dr Emomotimi Agama disclosed this during an interview, saying, this has become important given the critical role borrowing plays in the financial system. To […]
BY TEMITOPE ADEBAYO The Securities and Exchange Commission (SEC) has pledged its dedication to ensuring transparency and fairness in regulating Nigeria’s fintech sector. This assurance was given by SEC Director General, Dr Emomotimi Agama, during a meeting with applicants under the Regulatory Incubation Programme and Accelerated Regulatory Incubation Programme on Monday. Dr Agama emphasised that […]
BY TEMITOPE ADEBAYO The Securities and Exchange Commission (SEC) has issued a directive requiring all publicly listed companies to publish their financial statements on their websites effective from January 2025. The Commission while issuing the directive in a Circular Thursday, warned that failure to comply with this directive would attract sanctions. According to the SEC, […]