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Abia State Governor, Dr Okezie Ikpeazu, yesterday dissolved the State Executive Council (SEC) about one and half years after he appointed the commissioners to serve in his second tenure cabinet.
According to him, the NSE engaged with the federal government to secure an ”essential service status” for the market as part of its Covid-19 response as well as engaged with the Federal Ministry of Finance, Budget and National Planning to achieve specific capital market incentives in the 2019 and 2020 Finance Acts.
Nigeria’s first Professor of Capital Market, Professor Uche Uwaleke, has said there is nothing wrong with Federal Government’s plan to borrow N895 billion from unclaimed dividends and dormant deposits in bank accounts.
The rule provides that “if an issuer fails to file the relevant accounts by the expiration of the cure period, the exchange will: send to the issuer a ‘second filing deficiency notification’ within two business days after the end of the cure period; suspend trading in the issuer’s securities; and notify the Securities and Exchange Commission (SEC) and the market within 24 hours of the suspension”.
Part of the law provides that, “Any unclaimed dividend of a public limited liability company quoted on the Nigerian Stock Exchange and any unutilised amounts in a dormant bank account maintained in or by a deposit money bank, which has remained unclaimed or unutilised for a period of not less than six years from the date of declaring the dividend or domiciling the funds in a bank account, shall be transferred immediately to the trust fund.”
The Lagos State Chapter of the Peoples Democratic Party (PDP) has suspended three members of its executive committee for alleged anti-party activities.
The immediate past factional chairman of the Edo State chapter of the All Progressives Congress, APC, Anselm Ojezua, finally led other members of the party to pitch tenth with the Peoples Democratic Party, PDP, in the state, citing loss of confidence in the national leadership of the party and alleged disobedience to the party’s constitution.
The Securities and Exchange Commission is opposed to a proposed amendment in the Finance Bill 2020 that prescribes that unclaimed dividends be handed over to the federal government as trustee.
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.
The National Assembly and the Securities and Exchange Commission, SEC have endorsed the commencement of the Lagos Commodities and Futures Exchange, LCFE, assuring the management of the Exchange and all stakeholders of speedy legislation that would enhance the commodities market and the nation’s Gross Domestic Product, GDP.
The Federal Government yesterday faulted claims by the President of the Academic Staff Union of Universities (ASUU), Prof. Biodun Ogunyemi that the government had failed to deliver on the timelines on offers made to the union.
Oando Plc, an integrated energy company, has blamed the Securities and Exchange Commission (SEC) for its inability to submit third quarter (Q3) 2020 financial results.
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.
The Securities and Exchange Commission (SEC) says it has intensified efforts to attract more retail investors into the nation’s capital market.
Lawmakers in the Democratic Republic of Congo (DRC) have dismissed the Prime Minister Sylvestre Ilunga Ilunkamba on Wednesday evening during a parliament plenary session...
In a statement by Assistant Director Press and Public Relations unit Enuma Peter, the NYSC authorities declared emphatically “there is no COVID-19 positive Corps Members in Cross River State NYSC Orientation Camp.”
The Cross River State House of Assembly has scheduled to confirm Justice Akom Ikpeme as Substantive Chief Judge of the State on Thursday, January 28, 2021.
Paul Pogba has defended his former team-mate Zlatan Ibrahimovic against accusations of racism following the Swedish forward's clash with Romelu Lukaku on Tuesday.
Yoruba activist, Sunday Adeyemo popularly known as Sunday Igboho, has declared Ogun state will be his next destination to flush out criminal herdsmen.
African Council on Narcotics, ACON, has lauded the appointment of former military administrator of Lagos State, Brigadier General (retd) Buba Marwa, as the Chairman/Chief Executive, National Drug Law Enforcement Agency, NDLEA, describing it as among the best appointment made by President Muhammadu Buhari’s administration.
The Lagos Chamber of Commerce and Industry (LCCI) has said that the administration of Mr Joseph Biden, the 46th elected U.S President, would usher in new dispensation for global economy.
Chinese rescuers pulled 11 gold miners to safety on Sunday with most of them in good condition after 14 days trapped underground after an explosion, but 10 colleagues were still unaccounted for, state media reported.
Human Rights Writers Association of Nigeria (HURIWA) has cautioned the Nigerian authorities against the deployment of foreign manufactured vaccines against Covid-19 without total compliance with the pharmaceutical laws of Nigeria.
Ugandan soldiers working as part of a peacekeeping force in Somalia have killed 189 al Qaeda-linked al Shabaab fighters in an attack on one of their camps, the Ugandan army said.