Tag: SEC
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SEC partners IFC, AFDB on Sukuk investment
The Securities and Exchange Commission (SEC) on Friday expressed plans to work with International Finance Corporate (IFC), African Development Bank (AFDB) for development of Sukuk bond investment. Ms Mary Uduk, SEC new Acting Director-General said that the commission would engage with IFC, AFDB, state governments and Federal Mortgage Bank to include Sukuk option in their…
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Adeosun reassigns portfolios in SEC, appoints Acting DG
The Honourable Minister of Finance, Mrs. Kemi Adeosun, on Friday approved the reassignment of portfolios in the Securities and Exchange Commission (SEC). Ms. Mary Uduk will assume the position of Acting Director-General of the Commission. Uduk’s appointment is governed by the provisions of the Investments and Securities Act (ISA), 2007 and the conditions of service…
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SEC extends e-dividend registration deadline to March 31
The Securities and Exchange Commission (SEC) has extended its free e-dividend registration deadline to March 31. A senior management staff in the commission, who pleaded anonymity made the disclosure in an interview with newsmen in Lagos. The official said that the deadline was extended in principle for the third time for the operators to clear…
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SEC to resume forensic audit of Oando Plc
Dr Abdul Zubair, Acting Director-General, Securities and Exchange Commission (SEC) says it will resume forensic audit to probe Oando Plc based on petitions received by the commission from shareholders of the company. He disclosed this during a news conference on Tuesday in Abuja. Zubair noted that a forensic audit was initiated in 2017, and preliminary…
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JUST IN: SEC set to commence Oando audit
The Securities and Exchange Commission (SEC) has announced its preparedness to commence the forensic audit of Oando PLC. The acting Director General of the Commission, Abdul Zubair , announced in Abuja on Tuesday that the two lawsuits filed by Oando PLC and some of it’s shareholders, which restrained the commencement of the audit process, have…
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JUST IN: Administrative Panel recommends SEC DG’s dismissal from Public Service
…Gwarzo regrets collection of credit card as director of Medusa Investments regrettable The Administrative Panel of Inquiry has recommended the dismissal of the Director-General of the Securities and Exchange Commission (SEC), Mr. Mounir Gwarzo, from the Public Service of the Federal Government. The Panel also recommended that the suspended SEC director-general be referred to the…
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SEC extends free e-Dividend registration to February 28
The free electronic dividend (e-dividend) registration, which ended on December 31, 2017, has now been extended to Wednesday, February 2018. The initiative was put in place by the Securities and Exchange Commission (SEC), the apex regulatory agency in the Nigerian capital market. The e-dividend payment system was introduced to allow shareholders and investors get their…
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SEC orders stoppage of issuance of dividend paper warrants
As part of its major capital market initiatives, the Securities and Exchange Commission (SEC) on Tuesday directed all registrars to stop the issuance of dividend paper warrants. The Acting Director General, SEC, Dr. Abdul Zubair, said this during a media briefing. He said the stoppage of the issuance of dividend paper warrants would take effect…
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Oando heads to Appeal Court over ‘biased’ SEC sanctions
Oando PLC has challenged at the Appeal Court the findings and sanctions on it by the Securities & Exchange Commission (SEC), following an alleged investigation, which began in May 2017. SECs had placed technical suspension on Oando PLC shares and ordered a forensic audit into the company’s affairs. A statement published on Oando’s website on…
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Suspended SEC DG, Gwarzo trying to blackmail me – Adeosun
The Minister of Finance, Mrs Kemi Adeosun, on Friday, alleged that the suspended Director-General of the Securities and Exchange Commission, Mr Mounir Gwarzo is doing everything possible to blackmail her. The minister, however, noted that no amount of intimidation from the suspended DG will stop the Administrative Panel of Inquiries set up to probe him…