Business

SEC to sustain implementation of 10-year capital market master plan

Ihesiulo Grace 9 July 2020 0

The continued implementation of the Ten-year Capital Market Master Plan will be one of the major focussed of the new management of the Securities and Exchange Commission (SEC). The new Director-General, SEC, Lamido Yuguda resumed on Monday July 6 alongside the Executive Commissioners namely:

Business

SEC leveraging on Fintech in capital market regulation

Ihesiulo Grace 11 May 2020 0

The Securities and Exchange Commission (SEC) has stated that it is leveraging the various opportunities available in the Fintech space to ensure proper regulation of the Capital market in the face of the COVID-19 pandemic. READ MORE: ‘Living in Bondage’ sequel is coming to Netflix this May Acting Director-General of the SEC, Ms Mary Uduk […]

Business

SEC clarifies ban on sharing of gifts at AGM

Ihesiulo Grace 13 April 2020 0

The Securities and Exchange Commission, SEC has clarified its position on the sharing of gifts at Annual General Meetings as contained in Rule 602 (4) of its Rules and Regulations. According to the SEC, “Rule 602(4) states that ‘’public companies shall not distribute gifts to shareholders, observers and any other person at Annual General Meetings/Extra-Ordinary […]

Business

SEC activates business continuity process

Ihesiulo Grace 2 April 2020 0

In compliance with the Federal Government’s directives on the cessation of movement in Lagos, Ogun and the Federal Capital Territory, Abuja, the Securities and Exchange Commission (SEC) has activated its business continuity process. Consequently, the staff of the Commission is working remotely while all its electronic channels remain open to provide the necessary support

News

SEC announces regulatory framework for crowdfunding, proposes N70m limit for SMEs

Ihesiulo Grace 30 March 2020 0

The Securities and Exchange Commission Nigeria (SEC), at the weekend announced a detailed draft of its regulatory framework for crowdfunding in the country. The draft, if eventually approved, proposes conditions under which private companies are permitted, “with the required structure and mechanism in place” to raise capital from the public through a process called

Business

Patronise illegal schemes at your risk, SEC warns domestic investors

Ihesiulo Grace 27 March 2020 0

The Securities and Exchange Commission (SEC) has again warned Nigerians against patronising fund managers that are not registered with the Commission. According to the SEC, in recent times, it has observed the proliferation of the operation of unlawful/unlicensed investment schemes, with promises of huge, but unjustifiable returns on investment. READ ALSO: FG dispels

Business

Covid-19: SEC introduces electronic filling, suspends Q1 capital market meeting

Ihesiulo Grace 25 March 2020 0

In a precautionary move against the spread of coronavirus, the Securities and Exchange Commission, SEC, has introduced electronic filing and processing of applications The Commission also announced the extension of deadline on 2019 annual reports and Q1 2020 reports. In a circular to capital market stakeholders on COVID-19, the SEC also postponed the Q1 Capital […]

Business

SEC worries over low banks credit to agriculture sector

Ihesiulo Grace 13 March 2020 0

Motolani Oseni The Acting Director-General of the Securities and Exchange Commission (SEC), Ms Mary Uduk, has disclosed that the commission is worried over credit allocation to the Nigerian agriculture sector has remained as low as 5per cent in the last ten years. Uduk explained that the situation is seriously hindering growth in the agricultural sector. […]

Business

SEC intensifies effort to close down, prosecute ponzi scheme operators, promoters Scheme

Ihesiulo Grace 1 March 2020 0

The Securities and Exchange Commission (SEC) says it is intensifying efforts toward closing down illegal fund managers (ponzi schemes) operators in the country. Mrs Efe Ebelo, the Head, Corporate Communications of SEC made this known in a statement on Sunday, quoting the Acting Director-General of the commission, Ms Mary Uduk, as giving the assurance in Abuja. […]

Business

Protect your investments, SEC advises Army

Ihesiulo Grace 21 February 2020 0

The Securities and Exchange Commission, SEC has urged officers and men of the Nigerian army who have already invested in the capital market to explore all available channels to protect their investments. This was stated by Acting Director General of the SEC, Ms. Mary Uduk during a visit to the 9 Brigade Nigerian Army in […]

Business

Investor protection key to capital market development-SEC

Ihesiulo Grace 18 February 2020 0

Investor protection has been identified as one of the cardinal points of market regulation that contributes to deepening the capital market. This was disclosed by Acting Director-General of the Securities and Exchange Commission, Ms Mary Uduk while speaking with journalists in Lagos, weekend. Insecurity: Buhari, Service chiefs and matters arising According to Uduk, one of

Business

AIICO receives N5.3bn investment from LeapFrog

Ihesiulo Grace 11 February 2020 0

AIICO Insurance Plc has received an investment of N5.38 billion from LeapFrog and AIICO Bahamas. The amount was classified under deposit for shares in the company’s 2019 interim annual report published on the website of the Nigerian Stock Exchange (NSE). Deposit for shares represents amounts received by the company from its recent private placement, in […]

Business

SEC, ICPC pledge to strengthen collaboration in combating crime in capital market

Ihesiulo Grace 16 January 2020 0

The Securities and Exchange Commission (SEC) and the Independent Corrupt Practices and other Related Offences Commission (ICPC) are to collaborate in combating crime in the Nigerian capital market. This agreement was reached when the management of the SEC met with the management team of the ICPC in Abuja, Wednesday. Acting director-general of SEC, Ms. Mary […]

Business

Low liquidity: Capital market operators task SEC, NSE, others on local participation

Ihesiulo Grace 24 October 2019 0

Lagos – The capital market stakeholders have called on Securities and Exchange Commission (SEC), Nigerian Stock Exchange (NSE) and other stakeholders to formulate strategies that would boost local participation in the nation’s bourse. The capital market stakeholders made this call during an interview with News Agency of Nigeria (NAN) in Lagos, while reacting to

Business

Oando Saga: SEC explains actions, says aimed at protecting public investments

Ihesiulo Grace 10 June 2019

Temitope Adebayo The Securities and Exchange Commission (SEC) on Sunday said that Oando Plc was given sufficient opportunity of being heard before they were penalised. However, explained that the action was in the interest of the public. The commission in Lagos said that there were various opportunities by the company to defend themselves during the […]

News Nigeria

D-G Gwarzo’s suspension: Court hear SEC’s counter-claim Jan.30

Ihesiulo Grace 30 November 2018 0

The National Industrial Court, Abuja, on Thursday fixed Jan. 30, 2019, to hear the counter-claim and other pending applications filed by the Securities and Exchange Commission (SEC) and two other defendants challenging the suit filed by the suspended Director-General of SEC, Mounir Gwarzo. At the resumed hearing, Gwarzo’s counsel, Adetayo Adeyemi, told the court that […]

Business

SEC to tackle identity theft, extends multiple subscription deadline

Ihesiulo Grace 16 November 2018 0

In a move to ensure more investors regularise their accounts thereby reducing the volume of unclaimed dividends in the Nigerian capital market, the Securities and Exchange Commission, SEC has announced an extension of forebeafance on such accounts to December 31, 2019. This among others was part of the decisions reached at the end of the […]

Business News

SEC to take over management of 3 insurance firms, says Reps c’ttee

Ihesiulo Grace 5 November 2018 0

The House of Representatives sub – committee on the Capital Market has threatened to authorise the Securities and Exchange Commission (SEC) to take the management of three insurance companies for flouting industry regulations, tax evasion and other infractions. Chairman of the sub – committee, Rep. Tony Nwulu made this known after the committee had an […]

News Nigeria

Reps direct SEC to take over Capital Oil

Ihesiulo Grace 26 October 2018 0

…Vows to nail ex-CEOs over fraud The House of Representatives Committee on Capital Market and Institutions on Thursday directed the Security and Exchange Commission (SEC) to take over the Capital Oil Limited, a public liability company incorporated in 1985. This directive was handed down by the sub – committee Chairman, Rep. Tony Nwulu at the […]

Business News

Vibrant Commodities Exchange will aid Economic development – SEC

Ihesiulo Grace 21 October 2018 0

The Securities and Exchange Commission (SEC) has said that a more organized Commodities Exchange Market in the country would enhance efficiency and lead to economic growth and development. The Ag. Director General of the SEC Ms. Mary Uduk started this when she received members of the Commodities Trading Ecosystem Implementation Committee in her office in […]