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Nigerian Capital Market
The Securities and Exchange Commission, SEC, has enjoined more Nigerians to take advantage of the on-going e-dividend registration in a bid to reduce the unclaimed dividends profile as well as increase liquidity in the capital market and the economy.
The Nigerian capital market would soon introduce the electronic initial public offer (e-IPO) system in the country, the Securities and Exchange Commission (SEC) announced on Wednesday.
Stakeholders in the Nigerian capital market have urged the federal government to concentrate more on policies that would improve living standards of the people.
Following the political storms stunting Nigeria’s economic growth and development, the President and Chairman of Chartered Institute of Stockbrokers (CIS), Adedapo Adekoje, has affirmed the Institute’s commitment to rescue the country.
The chief executive officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, has averred that the United Kingdom remains a key partner to Nigeria, particularly for its capital market development.
The Joint Senate and House of Representatives committee on capital market have expressed worry over the failure of commercial banks to provide long – term financing instruments for projects in the country.
MTN Nigeria is yet to formally submit any application in respect of its planned initial public offer (IPO), the Securities and Exchange Commission (SEC) said on Sunday.
The Financial Reporting Council of Nigeria (FRC) has expressed the hope that the Nigerian Code of Corporate Governance 2018 will promote ease of doing business; attract local and foreign investments into the country.
The House of Representatives sub-committee on Capital Market, Regulation and Compliance has started a probe in the capital market operations.
The House of Representatives sub-committee of the Capital Market on Regulation and Compliance has commenced probe into alleged sharp practices by some Public Limited Companies (PLCs) following plethora of petitions by shareholders in the sector.
Domestic investors have continued to dominate trading on the equities market for three months in a row, as they traded N497.15 billion worth of shares for the first quarter, Q1, ended March 31, 2018.
Speaking on the lifting of the technical suspension, Mr. Babatunde Badmus, Pacesetter Shareholder Association said: “We are happy the SEC and the NSE has finally heeded to the pleas of minority shareholders. It is unfortunate this took six long months, nonetheless we are pleased to finally be opportune to reap from the Company’s positive operations.”
Shareholders of Oando Plc have demanded the sack of Kemi Adeosun, minister of finance, for allegedly interfering with the stock market.
While the shareholder groups have accused Adeosun of “unwholesome interference” in the nation’s capital market and meddling in the operations of SEC, and demanded her immediate sack, the minister has denied the allegations, saying the shareholder groups were speaking out of ignorance.
President of the Senate, Dr. Abubakar Bukola Saraki, on Wednesday reiterated the commitment of the 8th National Assembly to swiftly consider and pass required amendments to the Companies and Allied Matters Act (CAMA) and the Investment and Securities Act (ISA).
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