Tag: SEC
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SEC sets deadline for approval of nominee accounts
The Securities and Exchange Commission (SEC) has directed Capital Market Operators (CMOs) in Nigeria to obtain a one-off approval on or before Thursday, October 31, 2019, for the operation of nominee accounts. In a statement signed by the management of the agency on Monday, it was stated that after securing the ‘no object’ from SEC,…
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SEC in talks with NNPC, NLNG, foreign firms on possible NSE listing
The Securities Exchange Commission (SEC) has disclosed that it has started discussions with some big wigs in the oil and gas sector which includes the Nigerian National Petroleum Corporation (NNPC) and the Nigeria Liquified National Gas (NLNG) to list their shares on the Nigerian Stock Exchange (NSE). This disclosure was made by the acting Director-General…
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SEC, NFIU sign MoU to tackle ponzi schemes, fraud
The Securities and Exchange Commission (SEC) has signed a Memorandum of Understanding (MoU) with the Nigerian Financial Intelligence Unit (NFIU) to combat Ponzi schemes and fraud in the capital market. Mrs Mary Uduk, the Acting Director-General of SEC, disclosed this in a statement in Abuja on Wednesday. She said the collaboration was necessitated by the…
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FG Inaugurates Ex-UBA Director as SEC Board Chairman
A renowned commercial lawyer, Mr Olufemi Lijadu, was on Monday inaugurated as Chairman, board of the Securities and Exchange Commission (SEC). Mr Lijadu, at his inauguration yesterday in Abuja, by the permanent secretary in the Federal Ministry of Finance, Mr Mahmoud Isa-Dutse, was given the task of taking the Nigerian capital market to the next…
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Court adjourns hearing in SEC, Oando case till July
Justice Ayokunle Faji of the Federal High Court in Lagos on Monday adjourned until 22 July a case brought by Oando to halt management changes ordered by the Securities and Exchange Commission. The SEC’s action followed an investigation in which it allegedly found evidence of financial infractions by the company. Earlier this month, a court…
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FG to inaugurate SEC board Monday
The Federal Government will on Monday inaugurate the board of the Securities and Exchange Commission (SEC) to be chaired by Mr Olufemi Lijadu. The News Agency of Nigeria (NAN) reports that the board’s constitution is coming four years after President Muhammadu Buhari sacked the former SEC board headed by Mr Peter Obi. A senior management…
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Review Oando’s sanction, CSO tells SEC
A Civil Society Organisation (CSO), Initiative for Leadership and Economic Watch in Nigeria (ILEWN), has urged the Securities and Exchange Commission (SEC) to review the sanction it placed on Oando Plc to give room for equity and justice. The group made the call in Abuja on Wednesday night by its Executive Director, Mr Splendour Agbonkpolor.…
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Oando minority shareholders query SEC over suspension of AGM
Minority Shareholders of Oando Plc on Wednesday decried the cancellation of the company’s 2018 Annual General Meeting (AGM) by the Securities and Exchange Commission (SEC) on the eve of the programme. Mr Hamza Ridhwa, who is also the Secretary-General, Association for Investors Liberation, spoke on behalf of the shareholders at a news conference in Lagos.…
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Oando Saga: SEC says action aimed at protecting investors
The Securities and Exchange Commission (SEC) on Sunday said that Oando Plc was given sufficient opportunity of being heard before they were penalised. The commission said in Lagos that there were various opportunities by the company to defend themselves during the investigation by SEC and during the forensic audit. “The attention of SEC has been…
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Two directors quit Oando over uproar with SEC
Two non-executive directors of Oando have resigned their appointments in the latest twist to the face-off between Oando and the Securities and Exchange Commission (SEC). Chief Sena Anthony and Oghogho Apata resigned on Friday a week after SEC asked Wale Tinubu, the group managing director, and Mofe Boyo, his deputy, to quit and barred from…