Tag: SEC
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Operators seek FG intervention in SEC, Oando saga
Capital market operators on Wednesday called for urgent intervention of the Federal Government in the conflict between the Securities and Exchange Commission (SEC) and Oando Plc. They made the call in interviews with the News Agency of Nigeria (NAN) in Lagos. They reacted to the outcome of a forensic audit on Oando released by SEC…
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BREAKING: Court restrains SEC from removing Tinubu, deputy as Oando directors
The Federal High Court in Lagos on Monday restrained the Securities and Exchange Commission (SEC) from removing Mr Wale Tinubu as Group Chief Executive Officer of Oando Plc. The court also barred SEC from imposing a fine on Tinubu and carrying out its decision to bar him and his deputy Mr Omamofe Boyo from being…
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SEC sets up interim management team for Oando
The Securities and Exchange Commission (SEC) Sunday named Mutiu Sunmonu as the head of an interim management team it constituted to oversee Oando Plc. It mandated members of the interim team to conduct an Extra Ordinary General Meeting on or before July 1 to appoint new directors to the Board of the company. The new…
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Oando heads to court over SEC’s ruling baring CEO, Deputy from holding public company positions
Oando Plc said on Friday that it would challenge the Securities and Exchange Commission (SEC) ruling on the outcome of its forensic audit. The company made the disclosure in a statement issued in Lagos by its Head of Corporate Communications, Mrs Alero Balogun. Balogun said that the company would take all legal steps to protect…
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Alleged N115m fraud: Court discharges suspended SEC DG, Gwarzo, one other
Justice Hussein Baba Yusuf on Tuesday discharged the suspended Director-General of the Securities and Exchange Commission (SEC), Dr Mounir Gwarzo, on charges of N115 fraud. Independent Corrupt Practices and Other Related Offences Commission (ICPC) charged Gwarzo with an Executive Commissioner in the commission, Zakawanu Garuba, with five counts of alleged misappropriation to the tune of…
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N115m scam: Court to deliver ruling of ex-SEC DG’s no-case-submission on Tuesday
An FCT High Court on Friday is to deliver ruling on Tuesday in the no-case-submission filed by the suspended Director-General of the Securities and Exchange Commission (SEC), Dr Mounir Gwarzo on alleged of N115 fraud. The Independent Corrupt Practices and Other Related Offences Commission (ICPC) charged Gwarzo alongside an Executive Commissioner in the Commission, Zakawanu…
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SEC moves dividend paper warrant issuance deadline
The Securities and Exchange Commission (SEC) has extended the deadline for the discontinuance of the issuance of dividend paper warrants to Dec. 31. Mrs Efe Ebelo, SEC’s Head of Media, made this known on Thursday in statement in Abuja. A dividend paper warrant is a financial instrument in form of a cheque that is issued…
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CBN, SEC formally approve Access, Diamond merger
The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) have approved the merger of Access Bank Plc and Diamond Bank Plc, the last major regulatory hurdle for the consummation of the business combination. Both banks at the weekend confirmed receipt of the final approval from the financial services authorities. The final…
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CBN, SEC grant approval in principle to Access, Diamond banks’ merger
Access Bank and Diamond Bank Plc have obtained approval in principle from the Central Bank of Nigeria and the Securities and Exchange Commission on their proposed merger plans. Access Bank Executive Director, Personal Banking, Mr. Victor Etuokwu, said in Lagos that CBN and SEC had granted both banks approval in principle for the merger process.…
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We won’t prosecute multiple accounts holders, SEC assures Nigerians
Nigerians have once again been enjoined not to entertain any fears of prosecution but take steps to regularize their multiple subscription accounts in order to obtain the benefits of their investments in the capital market. Acting Director General of the Securities and Exchange Commission, SEC, Mary Uduk stated this during an interview in Abuja. Uduk…