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Securities and Exchange Commission

Nigerian Stock Exchange moves to forestall price decline in newly listed entities

The Nigerian Stock Exchange, NSE, has commenced moves to curtail the usual free fall in the share prices of newly listed companies.

NIPF: SEC disburses N17.09 million to 297 investors

The Securities and Exchange Commission on Wednesday said that the sum of N17.09 million has been disbursed to 297 investors from its National Investor Protection Fund.

US SEC sanctions KPMG, Deloitte for poor audit

The top U.S. securities regulator on Tuesday charged foreign affiliates of three major accounting firms – KPMG, Deloitte & Touche and BDO – for conducting audits without proper oversight from the Public Company Accounting Oversight Board.

Dropbox aims to raise $748m through IPO

Cloud data service Dropbox aims to raise as much as $748 million through its initial public offering and a private sale of stock, according to an updated securities registration filed Monday.

Senate to withhold EFCC, NNPC, 254 others’ budgets over unaudited accounts

The Senate has given over 256 Federal Government’s agencies and parastatals to present reports of their audited accounts up to 2017 or have their 2018 budgets withheld.

SEC extends e-dividend registration deadline to March 31

The Securities and Exchange Commission has extended its free e-dividend registration deadline to March 31, the News Agency of Nigeria learnt on Wednesday.

Oando drops lawsuit against SEC

Nigerian oil company, Oando, has dropped its lawsuit against the domestic Securities and Exchange Commission, paving the way for a forensic audit of the firm, the regulator announced in a statement on Tuesday.

Deloitte gets go ahead on Oando audit

The Securities and Exchange Commission (SEC) has asked Deloitte can go ahead with the forensic audit of Oando Plc.

Spotify files to go public, eying streaming growth despite losses

Spotify on Wednesday announced a long-awaited public listing, voicing confidence that its streaming model will keep reshaping the music industry but acknowledging that the company has yet to turn a profit.

SEC targets increased financial inclusion by 2020

The Securities and Exchange Commission (SEC) says it aims to achieve increased financial inclusion of Nigerians by the year 2020.

MTN yet to submit applictaion on initial public offering – SEC

The Securities and Exchange Commission (SEC) on Monday said that it was yet to be notified by the MTN Group on plans to raise about 500 million dollars from the Nigeria’s capital market.

Federal govt won’t lose N1.1 billion revenue to Etisalat transfer – NCC

Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Dambatta, has assured that new investors expected to take over 9mobile telecommunications will pay all outstanding debts, including the N1.1bn spectrum band fee to the federal government.

Governance as a relay race

I first met Mr. Akinwunmi Ambode early May 2014 somewhere in Victoria Island, Lagos. We had just launched TheCable online newspaper. We ran a story — “The man who would be next Lagos governor” — which surprised him, for it was not yet public knowledge that he was going to throw his hat in the ring.

MTN to list N153bn shares on Nigerian Stock Exchange

Telecoms operator, MTN Group Limited, is planning to raise about N153bn ($500m) from the sale of shares in its Nigerian business during the first half of this year, fulfilling the terms of a deal struck with the country to settle a record fine, Bloomberg has reported, quoting people familiar with the matter.

Zinox Group acquires Konga

The Zinox Group, an integrated ICT solutions and Original Equipment Manufacturer, has acquiired Konga after several months of negotiations with major investors, Naspers and AB Kinnevik.

Panel recommends dismissal of suspended SEC chief, prosecution by ICPC

An Administrative Panel of Inquiry has recommended the dismissal of the Director-General of the Securities and Exchange Commission, Mounir Gwarzo, from the Public Service.

Minister Kemi Adeosun asked me to stop Oando audit – Munir Gwarzo

The Minister of finance, Kemi Adeosun, and the suspended Director General of Securities and Exchange Commission, SEC, Munir Gwarzo have disagreed over the legality of the controversial suspension of the latter.g

Shareholders fault Emir Sanusi’s intervention in Oando crisis

Thousands of Nigerian shareholders have advised the Emir of Kano, Muhammadu Sanusi, to desist from interfering in the planned forensic audit of Oando Plc, saying the move was capable of eroding investors confidence in the capital market.


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Miyetti Allah: We are ready to obey anti-open grazing law

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ICPC to declare Senator Jang wanted over alleged N5.6 billion fraud

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) said it may declare former Governor of Plateau, Sen. Jonah Jang, wanted for refusing to honour its invitations.