The Securities and Exchange Commission (SEC) has again cautioned investors against venturing into private placement or any form of investment that promises quick and questionable returns. The apex capital market regulator sounded this warning recently in response to petitions against Aims Asset Management Limited on private placement transactions by the company in respect of the […]
The Securities and Exchange Commission (SEC) has signed a Memorandum of Understanding (MoU) with its Moroccan counterpart, Autorite Marocaine Du Marche Des Capitaux (AMMC). This is the first step towards achieving an effective cross border market policing between the two jurisdictions and enhanced market development through leveraging mutual comparative advantages. The MoU, signed on the […]
The President of Fund Managers Association of Nigeria (FMAN), Dr. Ore Sofekun, has said that the association is working with the Securities and Exchange Commission (SEC) on electronic transfer of funds in order to boost financial inclusion. Speaking at the annual workshop of Capital Market Correspondents Association of Nigeria (CAMCAN) held in Badagry, Lagos at […]
The director-general of the Securities and Exchange Commission (SEC), Mr. Mounir Gwarzo, has reiterated SEC’s obligation as the sole authority for approving securities issuance for capital raise in the nation. While noting that SEC was a government agency mandated to regulate and develop the Nigerian capital market, he regretted that it had been relegated for […]
The Securities and Exchange Commission (SEC) plans to introduce capital market education in school syllabus soon. The introduction was strengthened with the signing of a Memorandum of Understanding (MoU) with the Nigerian Educational Research and Development Council (NERDC) recently. The MoU, signed at the Commission’s head office in Abuja, recently will enhance the collaboration between […]
Nigeria’s Securities and Exchange Commission (SEC) has said it is investigating complaints it received against five Capital Market Operators (CMOs), namely, Bytofel Securities and Trust Limited, Jenkens Investment Limited, Securities Solutions Limited, Wizetrade Capital & Asset Management Limited and Elyon Assets Management Limited. Consequently, SEC invited 24 Directors and 11 Sponsored Individuals from the above […]
The Federal High Court has dismissed the three cases filed against the Nigerian Securities and Exchange Commission by BGL Plc, its sponsored individuals and subsidiaries. The SEC, through its Administrative Proceedings Committee (APC) had earlier withdrawn the operating licence of BGL Securities Limited and BGL Asset Management Limited and also placed fines and various suspension […]
The Securities and Exchange Commission has called on the attention of the investing public to an illegal capital market operator known as RUBY GOLD VENTURES (CRYPTO CURRENCY INVESTMENT). The SEC in an official statement signed by its management issued a stern warning against dealing with the Company in any capital market related business. “RUBY GOLD VENTURES is not registered […]
The introduction of E-Dividend champion by the Nigerian Securities and Exchange Commission of Nigeria (SEC) has yielded the registration of additional 5000 investors in less than 30 days the SEC has said. According to the SEC’s Head of Corporate Communication, Mr. Naif Abdussalam, in September alone we have been able to capture up to 5000 […]
The Securities and Exchange Commission (SEC) is proposing to apply new rules for unclaimed dividends. According to the proposed rules, dividends which remain unclaimed after the 12 year threshold will be transferred into the Nigerian Capital Market Development Fund. The SEC said “Pursuant to the provisions of Section 313(1)(n) of the Investments and Securities Act (ISA) […]
President Goodluck Jonathan yesterday reacted to reports attributed to President-elect, General Muhammadu Buhari, that he (Buhari) would re-visit the alleged missing $20bn after the inauguration of his administration. Jonathan insisted that his administration had nothing to hide on the alleged unremitted money. Accordingly, he ordered the relevant agencies of government to release the report of the […]
A group of capital market operators have stated that the listing of the UBA Plc N30.50 billion bond on the Financial Market Dealers Quotations Over-the-Counter (FMDQ OTC) and the Nigerian Stock Exchange (NSE) would boost market liquidity. FMDQ OTC is another trading platform on the nation’s capital market. The capital market experts said […]
The Board of Ashakacem Plc have announced the successful completion of its Mandatory Tender Offer to minority shareholders. Majority of the shareholders accepted the offer and converted their Ashakacem Plc shares to Lafarge Africa Plc shares. The company noted that through this process, the shareholders will tap into the value proposition provided by the benefit […]