Tag: SEC
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![JUST IN: SEC moves to withdraw operational certificates of 157 capital market firms [Full List]](https://thenewsguru.ng/wp-content/uploads/2017/06/Security-Exchange-Commission.png)
JUST IN: SEC moves to withdraw operational certificates of 157 capital market firms [Full List]
The Securities and Exchange Commission (SEC) has commenced process that may lead to cancellation and withdrawal of certificates of not less than 157 inactive capital market firms. In a circular dated November 10, 2020 and titled “Pre-Notice on Cancellation/Withdrawal of Certificates of Registration of Inactive Capital Market Operators,” SEC stated the 157 capital market operators,…
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CBN, SEC approves GTBank holdco structure
Guaranty Trust Bank Plc has obtained the approval-in-principle of the Central Bank of Nigeria (CBN) and Securities and Exchange Commission (SEC) to commence the formal process of the reorganisation of the bank to a financial holding company (HoldCo). The scheme will be implemented by means of a scheme of arrangement between the bank and its…
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Nigeria’s unclaimed dividends hit N158.44bn in 2019
The total unclaimed dividend figure in the Nigerian capital market stood at N158.44 billion as of December 2019, the News Agency of Nigeria (NAN) reports. Data obtained exclusively by NAN from the Securities and Exchange Commission (SEC) show that the figure is still on the increase in spite of e-dividend registration introduced by SEC in…
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SEC denies resignation of acting DG
The Securities and Exchange Commission (SEC) on Sunday denied news making round that Ms Mary Uduk, its Acting Director-General has resigned from the commission. Mrs Efe Ebelo, Head, Corporate Communication, Securities and Exchange Commission, stated this in a statement in Lagos. Ebelo described the purported resignation of Uduk from the commission and a send forth…
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BREAKING: Senate confirms Buhari’s nominees for RMAFC, SEC
The Senate on Wednesday approved six out of the seven nominees by President Muhammadu Buhari for appointment as Commissioners for Revenue Mobilization, Allocation and Fiscal Commission (RMAFC). The Senate’s approval of the nominees followed the presentation of a report by its Chairman, Committee on National Planning and Economic Affairs Sen. Adetunmbi Olubunmi (APC Ekiti North).…
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BREAKING: Senate receives Buhari’s request to confirm new SEC DG, others
The Senate has received a request from President Muhammadu Buhari for the confirmation of Mr. Lamido Yuguda as the new Director-General of the Securities and Exchange Commission (SEC). Also to be screened and confirmed are three nominees as full-time Commissioners of the Commission. The President’s request was contained in a letter read by the Senate…
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SEC launches tougher sanctions against Ponzi Scheme Promoters in Nigeria
The Securities and Exchange Commission (SEC) has stepped up its regulatory oversight to ensure that promoters of Ponzi schemes in Nigeria face the full wrath of the law and their entities quickly sealed off. Acting Director General of the commission, Ms Mary Uduk, disclosed in an interview in Abuja at the weekend that her agency…
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Listed Firms Must Disclose Impact of COVID-19 on Operations – SEC
The Securities and Exchange Commission (SEC) has said all public companies are required to regularly inform the investing the impact of the deadly COVID-19 on their business operations. This disclosure was made in a circular issued by the commission, which said in compliance with the federal government’s directives on the cessation of movement in Lagos,…
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SEC Postpones Q1 Capital Market Committee Meeting
The Securities and Exchange Commission (SEC) has announced the postponement of the Q1 Capital Market Committee (CMC) meeting earlier scheduled for April 23, 2020. The apex capital market regulatory agency, in furtherance of its role, has also issued an advisory that would mitigate the impact of COVID-19 on capital market operations. In a circular to…
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SEC Gives Stockbrokers Deadline to File Liquidity Position
Brokers and dealers in the nation’s capital market have been directed to compute and file their monthly net liquid capital position not later than five days after end of the month. In a directive posted on its platform on Wednesday, the apex regulator in the country’s capital market said for the 2020 returns, the brokers…