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

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 […]

Business News

SEC holds second CMC meeting 2018

Ihesiulo Grace 7 August 2018 0

The Securities and Exchange Commission (SEC) has announced that the Second Capital Market Committee (CMC) meeting in 2018 has been scheduled to hold from Thursday August 9th to Friday August 10th 2018 at the Federal Palace Hotel, Victoria Island, Lagos. While the key stakeholders in the capital market will meet on August 9th, members of […]

Business News

CIS pledges to work with SEC on Capital Market Studies

Ihesiulo Grace 23 July 2018 0

The Chartered Institute of Stockbrokers (CIS) has pledged to work with the Securities and Exchange Commission (SEC) in its desire to infuse Capital Market Studies (CMS) into the curriculum of schools in the country. Already, the apex regulator of the Nigerian capital market, is developing a curriculum on capital market studies as part of the […]

Business

MTN yet to file any application – SEC

Ihesiulo Grace 9 July 2018 0

The Securities and Exchange Commission (SEC), has said neither MTN Nigeria Limited nor any of its advisers or representatives has filed any application with the SEC regarding an Initial Public Offering (IPO). The Commission in a Circular in Abuja weekend signed by its Management, said its attention has been drawn to a publication in pages […]

News Nigeria

N114m fraud: FG arraigns suspended SEC DG Gwarzo, gets N25m bail

Ihesiulo Grace 6 June 2018 0

The Federal Government on Tuesday arraigned the suspended Director-General of the Securities and Exchange Commission (SEC), Mounir Gwarzo, on three count charge of alleged N114million fraud before an Abuja High Court in Maitama. Gwarzo, who was suspended by the Minister of Finance, Mrs Kemi Adeosun, in November 2017 for alleged financial impropriety, was arraigned

Capital Market

CMC Meeting: SEC, NSE, CSCS others considers e-IPOs for Nigeria

Ihesiulo Grace 23 April 2018 0

A committee comprising of the Securities and Exchange Commission (SEC), Nigeria Stock Exchange (NSE), Central Securities and Clearing System(CSCS), and six other organisations have been set up to work out the modalities involved in issuing Electronic Initial Public Offers (e-IPOs) in Nigeria’s financial markets. An e-IPO is an application based and browser based software