SEC

The Nigeria Financial Intelligence Unit, NFIU, has announced an upcoming crackdown on ghost businesses across the country, amidst concerns about lax regulation of companies’ financial dealings.

The Securities and Exchange Commission (SEC) has started verifying claims of 4,160 unpaid investors of the illegal investment scheme organised by Dantata Success and Profitable Company.

Facebook will not launch the cryptocurrency Libra until it has “fully addressed regulatory concerns,” according to David Marcus, the head of Facebook’s Calibra. The remarks are prepared testimony he plans to give tomorrow, in front of the US Senate Banking Committee.

The Securities and Exchange Commission, SEC, said that it will continue to collaborate with relevant stakeholders to sensitise investors on the need to regularise their multiple accounts as well as claim their dividends.

The All Progressives Congress (APC) in Enugu State has urged President Muhammadu Buhari to appoint only core and committed members of the party as ministers.

If the SEC goes ahead with this action it will be in clear violation of the interim injunction obtained by Oando’s principals Adewale Tinubu, the Group Chief Executive and Omamofe Boyo, the Deputy Group Chief Executive which restrains SEC, its servants and agents from directing or requesting any agency of the Government to act upon its decisions contained in its letter of 31st May pending the hearing.

Airtel Africa Plc is set to become the third most capitalized quoted company on the Nigerian stock market as the telecommunications company concludes arrangements to list its shares on the Nigerian Stock Exchange (NSE). Nigeria alone accounts for 36% of its total revenue.

The Securities and Exchange Commission (SEC) said it was ready to commence capacity building of stakeholders and the public on commodities exchange to bridge the existing knowledge gap.

The Securities and Exchange Commission, SEC, has again reiterated its earlier directives to shareholders of defunct Skye bank to claim their dividend payment.

The Managing Director and Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim, has appealed to the 9th Senate for the speedy passage of the pending NDIC Act, 2006 (as amended) currently before the National Assembly.

Some shareholders of Forte Oil (FO) Plc on Tuesday tasked the new management of the company on continuous payment of dividend and adherence to good corporate governance.

The Federal Government on Monday inaugurated the reconstituted Board of the Securities and Exchange Commission (SEC), changing the new members to provide effective leadership in the capital market.

The Federal Government will on Monday inaugurate the board of the Securities and Exchange Commission (SEC) to be chaired by Mr Olufemi Lijadu.

The Securities & Exchange Commission (SEC) and Oando saga is generating commentary from all quarters. There have been appeals for SEC to follow due process in the Oando case from groups as divergent as minority shareholder groups to NGOs to the Institute of Directors and even reputable voices such as Atedo Peterside. The international community has been draweninto the fray with the US–Nigeria Trade Council (UNSC) echoing the same tune, but this time the same message.

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 acting Director General of the Securities and Exchange Commission (SEC), Ms. Mary Uduk, has identified derivatives as some of the investable products capable of boosting liquidity in the Nigerian capital market.

It is often said that when two elephants fight, the grass suffers. This is proving to be the case between the Securities and Exchange Commission (SEC) and Oando PLC as concerned minority shareholders, who are the aggrieved party in the on-going issue, have seized every opportunity to vehemently air their grievances against the SEC, specifically faulting the recent actions of the regulatory body against Oando PLC.

Airtel Nigeria has officially filed an application with the Securities and Exchange Commission for the listing of its shares on the Nigerian Stock Exchange.