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Securities and Exchange Commission

Olam stakes N120 billion final offer for takeover of Dangote Flour Mill

OLAM International Limited has made a final of fer of N120 billion for the acquisition of 99.9 per cent equity stake in Dangote Flour Mills (DFM) Plc, which will make the flour-milling company a wholly-owned subsidiary of Olam International.

Oando records six per cent increase in turnover

The oil giant, whose operation was grounded by the Securities and Exchange Commission (SEC) when it laid siege to its head office with the police, weathered the storm and recorded a six per cent increase in revenue of N315.4 billion, from N297.3 billion, in comparative period of 2018.
Facebook more than doubled the money it spent on Chief Executive Officer Mark Zuckerberg's security in 2018 to $22.6 million, a regulatory filing showed on Friday.

Facebook to create a privacy panel as part of $5 billion FTC settlement

The Federal Trade Commission is set to announce on Wednesday that Facebook has agreed to a sweeping settlement of significant allegations it mishandled user privacy and pay $5 billion, two people briefed on the matter said.
Modibbo Tukur

Nigeria plans clampdown on shell companies

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.

SEC commences verification of Dantata investors

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.
France is creating a G7 task force to study how central banks ensure cryptocurrencies like Facebook’s Libra are governed by regulations ranging from money-laundering laws to consumer-protection rules, France’s central bank governor said on Friday.

Facebook tells US Congress how it thinks its cryptocurrency Libra should be regulated

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.
Mary Uduk - The Securities and Exchange Commission (SEC) has urged investors with multiple shareholding accounts to regularise such before December 31, 2019.

SEC reaffirms readiness to sensitise investors on e-dividend

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.
Mary Uduk - The Securities and Exchange Commission (SEC) has urged investors with multiple shareholding accounts to regularise such before December 31, 2019.

Clarion call for SEC, other agencies to respect rule of law

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 to boost Nigerian equities with N1.4 trillion

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.
Mary Uduk - The Securities and Exchange Commission (SEC) has urged investors with multiple shareholding accounts to regularise such before December 31, 2019.

SEC to commence capacity building on commodities exchange

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.
Mary Uduk

SEC urges defunct Skye bank investors to claim dividends

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

NDIC begs Senate over speedy passage of amended Act

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.

Forte Oil shareholders task new management on sustainable dividends

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.

Federal government charges new SEC board to sanitize capital market

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.

Federal government to inaugurate SEC board Monday

The Federal Government will on Monday inaugurate the board of the Securities and Exchange Commission (SEC) to be chaired by Mr Olufemi Lijadu.
Mary Uduk - The Securities and Exchange Commission (SEC) has urged investors with multiple shareholding accounts to regularise such before December 31, 2019.

SEC: Derivatives will boost capital market liquidity

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.

Shareholders, independent parties put pressure on SEC to follow due process

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 files application for listing on NSE

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

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