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 […]
The Johannesburg Stock Exchange has suspended trading in shares belonging to Oando Plc. According to a statement issued by the JSE’s Sens service, Oando’s listing was suspended following the review of subsequent correspondence received on October 18 from the Nigerian Stock Exchange (NSE) and the Securities and Exchanges Commission (SEC). On Wednesday, the NSE said […]
Afolabi Adesola Oando Plc has reacted to the suspension and forensic audit directives from Nigeria’s Securities and Exchange Commission (SEC). The energy firm in a statement released via the Nigerian Stock Exchange (NSE) late Wednesday noted that “The Company is currently reviewing subsequent correspondence received from the NSE and SEC and will provide a full […]
*Discovers gross misconduct, insider dealings, others Afolabi Adesola Nigeria’s Securities and Exchange Commission (SEC) has ordered the Nigerian Stock Exchange (NSE) to immediately suspend the trading, in the shares of Oando Plc. The suspension order, which became effective on Wednesday, October 18th, 2017, is as a result of what the capital market regulator said, was […]
*SEC bans BGL boss, Okumagba for 20 yrs *As DMD, three others face charges Afolabi Adesola The zero- tolerance stance on infractions of the Securities and Exchange Commission (SEC), received a major boost on Thursday, when the BGL Group and its officials, were arraigned before a Chief Magistrates’ Court in Abuja on charges of alleged […]
The management of Oando Plc has reassured its shareholders across the country ahead of its 40th Annual General Meeting slated for Monday, September 11, 2017, in Uyo, Akwa Ibom State. Following the response of the Securities & Exchange Commission (SEC) to petitions raised by Alhaji Dahiru Mangal and Ansbury Inc. objecting to the AGM, the […]
*As SEC may merge multiple accounts The Nigerian equities market is currently battling with a challenge of how to harmonize multiplication accounts which could either be forfeited by their owners or merged into one single account. According to the Director General Securities and Exchange Commission, (SEC), Mounir Gwarzo, multiple accounts that are similar could be […]
Stakeholders of the Nigerian capital market have called on the Securities and Exchange Commission (SEC0 and the Nigerian Stock Exchange (NSE) to reflect the growth recorded in the equities market with revival of the Initial Public Offer (IPO) market. The stakeholders, who spoke to Daily Times Nigeria, said that growth in the market should reflect […]
The Central Bank of Nigeria (CBN) has lauded the contributions and achievement of the Securities and Exchange Commission (SEC) in simplifying dividend payments and reducing unclaimed dividend fraud in the country. Mr. Dipo Fatokun, CBN’s Director, Banking& payment systems Department who gave the commendation recently in Lagos, said that just as the country is still […]
The Nigerian Securities and Exchange Commission (SEC) has released a 9-point communique, highlighting the capital market’s role in supporting the mobilization and deployment of resources to fund the N2.36 trillion gap in the nation’s 2017 budget. The communique which was issued at the week, come on the heels of the 2017 budget seminar held on […]
The Nigerian business community is positioning to be reckoned with in mergers and acquisitions as the Securities and Exchange Commission (SEC) has expressed its readiness to cooperate with global agencies to ensure sustainable growth of Mergers and Acquisitions (M&A) in the country. Mounir Gwarzo, Director General of SEC, revealed this when a delegation of experts […]
The Securities and Exchange Commission (SEC) yesterday listed manufacturing, trade, works, power, housing and transport as the sectors that would benefit much from the Federal Government’s 2017 budget if well implemented. Dr. Afolabi Olowookere, SEC Head, Economic Research and Policy Management Division, said this at the 2017 budget seminar organized by the commission in Lagos. […]
The Director-General of the Securities and Exchange Commission (SEC), Mr. Mounir Gwarzo, yesterday urged the capital market stakeholders to introduce new products that would aid the implementation of the 2017 budget. Gwarzo made the remark in an address at the 2017 budget seminar organized by the commission in Lagos. He said that capital market stakeholders needed to strategize […]
… silence of investors on suspected crime counter-productive Capital market regulators have been urged to deploy preventive market regulatory methods to enthrone confidence in the Nigerian market rather than its current curative method which leaves investors more bruised. To usher in a more vibrant capital market, the Securities and Exchange Commission (SEC) and the Nigerian […]
The Securities and Exchange Commission (SEC), through its investor protection initiatives, has recovered N1.5 million for an investor, Rev. Fr. Samuel Ukeje, whose shares were illegally sold. A statement issued by the commission on Sunday stated that Ukeje, who resides in Italy, bought the Guaranty Trust Bank shares eight years ago through Cashville Investment and Securities. […]
In its pursuit to deepen professionalism and market vibrancy, the Nigerian Stock Exchange (NSE) has inducted 50 newly qualified authorized dealing clerks, out of the 57 that sat for the qualification examinations. Both the Securities and Exchange Commission (SEC) and the NSE charged the new brokers to comply with operating standards, serve as good ambassadors […]
….Raise issues on amended SEC Rules The Association of Stockbroking Houses of Nigeria (ASHON) has appealed to the Securities and Exchange Commission (SEC) on behalf of dealing members suspended for inability to meet new capital base and the minimum operating standards (MOS). The appeal was made in SEC’s office Abuja recently when the newly elected […]
In a move to re-position the capital market and restore the confidence of investors, Security and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) have released new guidelines for the settlement of securities and government bonds for the 2017 trading year. In an approved document, both agencies stated that the objective of the […]
The Securities and Exchange Commission (SEC) is investigating various complaints of over N300 million against Transglobe Investment & Finance Company Ltd, a stockbroking firm. In a notice issued by the market’s apex regulator at the weekend, the SEC noted that a meeting with the Directors and sponsored Individuals of the firm has been scheduled in […]
The Securities and Exchange Commission (SEC) and the Central Bank of Nigeria have introduced guidelines on securities settlements in Nigeria. According to the regulators, the guidelines are outlined to promote competitive, efficient, safe and sound post trading arrangements in the Nigerian financial market. The guidelines set to promote and facilitate the development of efficient and […]