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Nigerian Capital Market

Court adjourns ‘Dantata Success’ N2 billion fraud case

The Federal High Court sitting in Abuja has adjourned to April 15, 2021 the case between the Federal Government of Nigeria and Dantata Success and Profitable Company and four others.
Flour Mills of Nigeria (FMN) has unveiled plans to spend about N34 billion over the next 10 years to develop Sunti Community in Niger State, hosting of one of its sugar plants – Sunti Golden Sugar Estates (SGSE).

Flour Mills eyes more capital market funding

The Group Managing Director/Chief Executive Officer, Flour Mills of Nigeria (FMN) Plc, Mr. Omoboyede Olusanya, has said the company will continue to explore opportunities in the capital market to enable it diversify its funding sources whilst playing a critical role in the development of our market.

Coronavirus: SEC suspends all physical meetings

The Securities and Exchange Commission (SEC) has suspended all physical meetings and visits to its offices till further notice in the wake of the second wave of COVID-19.

SEC raises the alarm over Famzhi Interbiz

The Securities and Exchange Commission (SEC) has warned the Nigerian business community to be careful of the activities of Famzhi Interbiz Limited, saying the company is not registered as a financial services institution.
As investors’ confidence is gradually returning to the Nigerian capital market despite the lull in economic activities, the United Capital Plc, leading fund manager in Nigeria has recorded another landmark with the launching of the nation’s first designated mutual fund for N1.0 billion Sukuk Fund.

United Capital deepens alternative finance with N1 billion maiden Sukuk fund

As investors’ confidence is gradually returning to the Nigerian capital market despite the lull in economic activities, the United Capital Plc, leading fund manager in Nigeria has recorded another landmark with the launching of the nation’s first designated mutual fund for N1.0 billion Sukuk Fund.

SEC to enforce trading disclosure of 500,000 stocks, others

From January 2021, stockbrokers would be mandated to give details of any investor in the Nigerian capital market who trades any security more than 499,999 units.
Director General of the SEC, Mr. Lamido Yuguda, stated this on Tuesday at a Webinar organised by the Nigerian Stock Exchange (NSE), in collaboration with the Nigeria Governors’ Forum (NGF) and the Nigerian Investment Promotion Council (NIPC) with the theme: Privatisation in Nigeria and the Outlook for Subnational Economic Development.

SEC decries low participation of retail investors, moves to attract more

The Securities and Exchange Commission (SEC) says it has intensified efforts to attract more retail investors into the nation’s capital market.

Investors kick as Nigerian government plans take-over of N158 billion unclaimed dividend

Investors in the Nigerian capital market have expressed disgust over the plan by the Federal Government to take over the N158 billion outstanding unclaimed dividend in the market.
The requests contained in three separate letters read at the beginning of plenary on Tuesday by the Senate President, Ahmad Lawan. 3

Capital market: Senate tasks stakeholders on economic recovery

To strengthen the confidence of investors in the capital market, the Senate on Wednesday tasked stakeholders on the need to revive the Nigerian economy.
LCFE’s Managing Director and Chief Executive Officer, Mr Akin Akeredolu-Ale, confirmed the plan at a programme to commemorate the 2020 World Investment Week (WIW) which focuses on financial literacy.

Lagos commodities exchange targets 10 million youth for empowerment

Barring unforeseen circumstances, the newly licenced Lagos Commodities and Futures Exchange (LCFE) is targeting no fewer than 10 million Nigerian youths for empowerment as commodities traders under its proposed seamless capacity building.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE, others commit to expanding retail investment opportunities in capital market

The Nigerian Stock Exchange (NSE), Nigerian International Securities Limited (NISL) and the Chartered Institute of Stockbrokers (CIS) on Monday commited to expanding retail investment opportunities in the capital market.
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

NSE set to sensitise investors on derivatives market

The Nigerian Stock Exchange (NSE) will Tuesday, host a capacity-building workshop to make investors have a better understanding of the derivatives product and highlight its applicability to hedge against crisis such as the COVID-19.

SEC educates investors on ‘investing in difficult times’

The Securities and Exchange Commission (SEC) has held a webinar to educate investors in the Nigerian capital market in understanding the rudiments of investing in difficult times.

SEC, NITDA partner on data protection

The Securities and Exchange Commission, SEC, has restated its preparedness to collaborate with the National Information Technology Development Agency, NITDA, in a bid to foster safe conduct of transactions and usage of personal data in the Nigerian capital market.

SEC, NITDA to collaborate on data protection in capital market

The Securities and Exchange Commission (SEC) has restated its preparedness to collaborate with the National Information Technology Development Agency (NITDA) to foster safe conducts and usage of personal data in the Nigerian capital market.

Capital market support committee sets up N1 billion funding package to combat coronavirus

The capital market community led by the Securities and Exchange Commission (SEC) has launched a funding initiative with the aim of raising N1 billion to support the fight against Coronavirus (COVID-19) on the Nigerian economy.
Access Bank has unveiled a new brand logo to reflect its new status following the completion of its merge with Diamond Bank.

Access Bank completes N15 billion green bond cross-listing

The 15.50% fixed rate, unsecured climate-credential green bond is the first of its kind to be issued by a Nigerian corporate and represents a major milestone in the development of the local green finance market.
Nigerian Stock Exchange NSE

Stakeholders hail NSE on demutualisation, list benefits

Capital market stakeholders have hailed the final approval given by members of the Nigerian Stock Exchange (NSE) to demutualise the exchange to become a profit-making and limited liability company, saying it will benefit the market and the economy.
Stakeholders in the capital market have stressed the need to attract private and domestic capital for funding of critical infrastructure in the country.

Federal government urged to seek domestic capital for infrastructure funding

Stakeholders in the capital market have stressed the need to attract private and domestic capital for funding of critical infrastructure in the country.
Nigerian Stock Exchange NSE

Federal government urged to seek private, domestic capital for infrastructure funding

Stakeholders in the capital market on Thursday stressed the need to attract private and domestic capital for funding of critical infrastructure in the country.
Mary Uduk - The Securities and Exchange Commission (SEC) has urged investors with multiple shareholding accounts to regularise such before December 31, 2019.

SEC: Electronic offering‘ll reduce unclaimed dividends

Acting Director-General of the Securities and Exchange Commission, SEC, Ms. Mary Uduk has said that the introduction of electronic offering in the Nigerian capital market remains a major achievement that will help solve the problems of unclaimed dividends.
Mary Uduk - The Securities and Exchange Commission (SEC) has urged investors with multiple shareholding accounts to regularise such before December 31, 2019.

SEC: Market regulation now more efficient with technology

The Securities and Exchange Commission, SEC, has said that regulation of the market in a technology-driven era is now more efficient and that is why it is stepping up its use in regulation to ensure that investors in the capital market are adequately protected.

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Governor Seyi Makinde of Oyo State, on Wednesday, declared that starting from next year, the government would declare Hijrah holiday in line with the yearnings of the Muslim community in the state.

Oyo governor to declare Hijrah holiday from next year

Governor Seyi Makinde of Oyo State, on Wednesday, declared that starting from next year, the government would declare Hijrah holiday in line with the yearnings of the Muslim community in the state.
Zimbabwe's 71-year-old Vice President Kembo Mohadi on Wednesday refuted accusations of sexual misconduct by an online news outlet, saying he is the victim of political machinations.

Zimbabwean vice president accused of soliciting sex at his office

Zimbabwe's 71-year-old Vice President Kembo Mohadi on Wednesday refuted accusations of sexual misconduct by an online news outlet, saying he is the victim of "political machinations".
Nigeria Export Processing Zones Authority (NEPZA)

Nigerian government announces additional economic zones for agric, textile

The federal government has approved the expansion of the existing Free Trade Zones (FTZs), as well as the activation of existing ones to respond to the demands of the African Continental Free Trade Area Agreement (AfCFTA) and the COVID-19 pandemic.

WAEC registration: Kwara government warns principals against extortion

The Kwara Government has warned principals in public schools not to extort students during the registration of the upcoming West Africa Examination Council (WAEC) examination.

Court affirms Ogun NUJ chairman

The National Industrial Court, sitting in Ibadan, on Wednesday, affirmed the election of Comrade Soji Amosu as the duly elected Chairman of Ogun State chapter of the Nigeria Union of Journalists (NUJ).

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WAEC registration: Kwara government warns principals against extortion

The Kwara Government has warned principals in public schools not to extort students during the registration of the upcoming West Africa Examination Council (WAEC) examination.
Okezie Ikpeazu

Abia government reacts to attack on police station, places N1 million bounty on information...

Abia State Government has reacted to yesterday’s attack on Abayi police station in which two policemen were killed and arms carted away by gunmen.
The much talked about 284 kilometre rail project starting from Kano, Nigeria, via Jibia in Katsina and extending into Maradi in Niger Republic has been flagged off by President Muhammadu Buhari.

Insecurity: 44 CSOs ask President Buhari to resign or face impeachment

A coalition of 44 civil society organizations, CSOs, have asked President Muhammadu Buhari to step aside or face impeachment by the National Assembly, if he can no longer ensure the security and welfare of the Nigerian people.
The Senate President, Ahmad Lawan, has said that for appreciable development to take place in the country, more women must be regarded and enlisted to take up more spaces in governance.

Senate confirms ex-service chiefs as ambassadors

Senate President, Ahmad Lawan, had on February 10, mandated the Committee on Foreign Affairs to confirm General Abayomi Olonisakin (retd) (Ekiti); Lt-Gen. Tukur Buratai (retd) (Borno); Vice Admiral Ibok- Ette Ibas (retd) (Cross River); Air Marshal Sadique Abubakar(retd) (Bauchi); and Air Vice Marshal Muhammad S. Usman (Rtd) (Kano) as non-career ambassadors of the Federal Republic of Nigeria.
Erik Prince, the former head of the security contractor Blackwater Worldwide and a prominent supporter of former President Donald J. Trump, violated a United Nations arms embargo on Libya.

Blackwater founder Erik Prince accused of helping evade U.N. Libya sanctions

Erik Prince, the private security executive and supporter of former U.S. President Donald Trump, “at the very least” helped evade an arms embargo on Libya, according to excerpts from a United Nations report seen by Reuters.