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 that […]
* Market stakeholders raise eyebrows over non-release of probe panel’s report * Why ex-acting SEC DG was demoted – Finance Minister The ongoing saga between Oando Plc, the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) has caught yet another leader of the commission in its fangs. Speaking with our correspondent at […]
The ongoing battle between the Securities and Exchange Commission (SEC) and Oando Plc has taken a new dimension. In a statement issued by the Commission on Tuesday, the acting Director General of the Commission, Abdul Zubair , announced in Abuja that the two lawsuits filed by Oando PLC has been withdrawn. ‘Oando Plc has withdrawn […]
A total of N11.43 billion accrued as earnings from the sales of shares to the three major players in the Nigerian equities in 2017, according to findings by business a.m. The Securities and Exchange Commission (SEC), the market regulator, the Nigerian Stock Exchange (NSE), the market platform provider and the Central Securities Clearing System (CSCS), […]
The Securities and Exchange Commission (SEC) , has said that it aims to achieve increased level of financial inclusion of Nigerians by the year 2020. Acting Director General of the SEC, Dr. Abdul Zubair stated this during a financial inclusion sensitization campaign held in Karshi, Abuja at the weekend. Represented by Director Market Development Department […]
Securities and Exchange Commission (SEC) has pledged to work with finance correspondents to ensure proper reporting of the capital market in order to enlighten and educate the investing public. Acting Director General of SEC, Dr. Abdul Zubair stated this when the executive of Finance Correspondents Association of Nigeria (FICAN), Abuja Chapter, visited him recently. Zubair […]
Ruling in a motion filed by an oil firm, Oando Plc, seeking preservative orders in a suit it filed to challenge the technical suspension imposed on its shares on the floor of the Nigerian Stock Exchange (NSE) to allow for a forensic auditing of its books, has been fixed by a Federal High Court, Ikoyi, […]
*says High Court not IST appropriate Daily Times Nigeria gathered that Oando Plc has approached the Court of Appeal with prayers for the court to lift the prevailing technical suspension placed on its shares as ordered by the SEC, as it argued that THE FEDERAL High court is more appropriate to entertain the case than […]
To facilitate a more robust and deeper financial market, operators in the Nigerian capital market have urged the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) to grant them single dealing lincense to access Discount Window. The operators are currently being regulated by the Securities and Exchange Commission and they are […]
To facilitate a more robust and deeper financial market, operators in the Nigerian capital market have urged the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) to grant them single dealing lincense to access Discount Window. The operators are currently being regulated by the Securities and Exchange Commission and they are […]
The Nigeria Labour Union under the auspices of Association of Senior Civil Servants of Nigeria (ASCSN) on Wednesday commended Presided President Muhammadu Buhari for what it described as “timely intervention” in the Securities and Exchange Commission (SEC) by suspending the embattled Director General Mr Munir Gwarzo saying that the suspension was long over due. The […]
·Wants suspended DG to face investigative panel set up by minister As the controversy over the suspension of the Director General of the Securities and Exchange Commission (SEC), Mr Munir Gwazo, continued to raise dust from different quotas, the Commission has insisted on carrying out a forensic exercise into the activities of Oando Plc. Meanwhile, […]
The Federal Government has appointed Dr. Abdul Zubair, as the acting Director General of the Securities and Exchange Commission (SEC) with immediate effect. His appointment was disclosed in a statement made available to the Daily Times on Sunday. The Daily Times be recalls that the Federal Government had last week, sacked former DG of SEC, […]
The House of Representatives Committee on Capital Market and other Institutions on Wednesday summoned 100 chief executive officers CEOs and boards of commercial banks, oil companies and other private companies operating in Nigeria over allegations of corporate governance breaches and abuse of shareholders rights and interests. The summons by the House committee was based upon […]
The Minister of Finance, Mrs. Kemi Adeosun, has suspended the Director General of the Securities and Exchange Commission (SEC), Mr. Mounir H. Gwarzo, from Office, to allow for an unhindered investigation of several allegations of financial impropriety leveled against the Director-General. Adeosun said that the suspension was in line with the Public Service Rules (PSRs) […]
… May opt for As IST hearing Indications have emerged that Oando Nigeria Plc will appeal the Lagos High Court ruling last Thursday, which gave the Securities and Exchange Commission (SEC), power to forge ahead to conduct forensic audit on the firm. In the ruling, the court had struck out Oando’s case against SEC Nigeria, […]
The House of Representatives on Wednesday, charged President Muhammadu Buhari to constitute the board of the Security and Exchange Commission (SEC). According to the House which passed a resolution after the adoption of the motion sponsored by Rep. Tajudeen Yusuf decrying the non-constitution of the board, the lawmakers declared that the delay in constituting the […]
The zero tolerance stance on market infractions and fraud of the Securities and Exchange Commission (SEC), received yet another major boost Tuesday when Mr. Oyekun Akinsemoyin was arraigned before the Ikeja magistrate court 1 on charges of conspiracy, forgery, fraud and impersonation contrary to sections 412, 380 and 368 of the Lagos state criminal code. […]
* Scandal, setback for economy Stakeholder Adesola Afolabi, Lagos The latest development in the Oando/SEC capital market drama that unfolded in September has taken a new twist as Oando announced that it has obtained a court order to annul the suspension placed on the sale of its shares by the Nigerian Stock Exchange (NSE) following […]
Afolabi Adesola The 48hour suspension, meant to elapse Friday 20th October 2017, placed on shares of Oando Plc has been extended till further notice. The Nigerian Stock Exchange General Counsel/ Head of Regulation, Tinuade Awe said on Friday that trading in the shares of Oando Plc will remain fully suspended on the Nigerian Stock Exchange […]