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Jennete Ugo Anya
- December 24, 2024
Singaporean, Nigerian Firms Seal $4.5bn Deal To Build Film City
In a groundbreaking move for Africa’s creative and tech industries, TSC Global, a Singapore-based company, and Nigeria’s Del-York Group have entered into a historic joint venture valued at $4.5 billion. This partnership, which represents the largest investment in Africa’s creative sector, will see the development of the Lagos Film City (Kebulania), a state-of-the-art facility set […]
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- December 24, 2024
NGX Group, SEC Forge Stronger Global Partnerships With India
The Nigerian Exchange Group (NGX Group), in collaboration with the Securities and Exchange Commission (SEC) Nigeria, has strengthened its global partnerships through strategic engagements with India’s financial ecosystem. The high-level meetings, held on December 16 and 17, 2024, at the National Stock Exchange (NSE) headquarters in Mumbai, marked a significant step in enhancing the Nigerian […]
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- December 24, 2024
NGX CEO Unveils Plans For Tokenisation To Attract Gen Z
The Chief Executive Officer of the Nigerian Exchange Limited (NGX), Mr. Jude Chiemeka, has announced plans to tokenise Nigerian assets as part of a strategy to attract Gen Z and Millennial investors to the stock market. Speaking at the 2024 Investor Summit & Awards Dinner hosted by Emerging Africa recently, Mr. Chiemeka highlighted the changing […]
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- December 24, 2024
SEC Approves Elumelu, Heirs Holdings’ Plan To Increase Stake In Transcorp To 35.94%
The Securities and Exchange Commission (SEC) has granted approval to Mr.Tony Elumelu, Dr. (Mrs.) Awele Vivien Elumelu, and Heirs Holdings Limited to increase their combined shareholding in Transnational Corporation (Transcorp) Plc to 35.94 percent. This move, achieved through direct and indirect share purchases, underscores a significant consolidation of control within one of Nigeria’s leading conglomerates. […]
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- December 18, 2024
SEC, CBN Sanction 10 Firms For Regulatory Infractions, Fines Hit N1.5bn
In a decisive move to uphold compliance standards, the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) have imposed fines totalling N1.502 billion on 10 deposit money banks (DMBs) and other listed organisations for various regulatory violations. These penalties were enforced within the first half of 2024, shedding light on the […]
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- December 18, 2024
UBA Aims To Deepen Its Global Expansion With N239.4bn Rights Issue Proceeds
United Bank for Africa (UBA) Plc is set to deepen its global presence by investing in key financial hubs, including the United Kingdom (UK), the United States of America (USA), France, and the United Arab Emirates (UAE). This move, announced by the Group Chairman, Mr. Tony Elumelu, aims to enhance the bank’s international operations and […]
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- December 18, 2024
SEC To Penalise Companies For Not Publishing Financial Results Online
The Securities and Exchange Commission (SEC) has issued a directive requiring quoted companies in Nigeria to publish their periodic financial returns on their corporate websites alongside submitting them to the SEC and relevant exchanges. This initiative is aimed at promoting greater transparency and boosting investor confidence in the Nigerian capital market. In a circular released […]
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- December 18, 2024
NASS Grants SEC Power To Regulate Online Forex Platforms
The National Assembly has granted the Securities and Exchange Commission (SEC) broad regulatory powers over online forex trading platforms, their activities, and intermediaries. This significant development follows the passage of the recently approved Investments and Securities Bill, which repeals the 2007 Act and reaffirms the SEC as the primary regulatory body for Nigeria’s capital market. […]
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- December 16, 2024
CSCS Leverages Technology To Enhance Capital Market
The Central Securities Clearing System (CSCS) Plc is championing the use of technology to deepen Nigeria’s capital market, as highlighted during the 2024 annual conference of the Capital Market Correspondents Association of Nigeria (CAMCAN) in Lagos. Speaking on the theme: ‘Bank Recapitalisation: Bridging the Gap Between Investors and Issues in the Nigerian Capital Market,’ CSCS’s […]
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- December 16, 2024
NGX Enforces 3,792 Sanctions Over 13 Years
The Nigerian Exchange Group (NGX), through its regulatory body NGX Regulation Limited (NGX Regco), has implemented 3,792 sanctions on trading license holders between 2011 and 2023, as revealed in the compliance report BrokerTraX. This initiative, launched to enhance market transparency and investor confidence, recorded 193 rule breaches by stockbroking firms over the period. Enforcement actions […]
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