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JenneteUgo Anya
- 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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- December 16, 2024
MTN Nigeria Raises ₦72.1bn In Oversubscribed Series
MTN Nigeria Communications PLC has successfully raised ₦72.18 billion through its series 13 and 14 commercial paper (CP) issuance, surpassing its initial target of ₦50 billion by 144 percent due to overwhelming investor interest. This issuance, conducted under the company’s ₦250 billion CP Issuance Programme, marks another milestone in MTN Nigeria’s financing strategy. The series […]
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- December 16, 2024
NGX RegCo Advocates IFRS Sustainability Standards
NGX Regulation Limited (NGX RegCo) has hosted its annual Issuers’ Engagement Forum, spotlighting the adoption of the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards. The event, themed: ‘Adopting the IFRS Sustainability Disclosure Standards: Strategies and Expectations,’ convened industry leaders, regulators, and top executives from Nigeria’s listed companies to chart a course toward enhanced corporate […]
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- December 13, 2024
FG Expands Infrastructure Financing With ₦1trn Sukuk Bond
The federal government has issued six Sovereign Sukuk bonds valued at ₦1.1 trillion (approximately $657.6 million) to fund 124 federal road projects spanning over 5,820 kilometers across the country’s six geopolitical zones. This announcement was made by Dr. Emomotimi Agama, Director-General of the Securities and Exchange Commission (SEC), during the second International Islamic Capital Market […]
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- December 13, 2024
Dangote Sugar Refinery Closes Series 6 , 7 Commercial Paper Offer
Dangote Sugar Refinery (DSR) has closed its Series 6 and 7 commercial paper offerings, aimed at raising up to ₦50 billion as part of its ₦150 billion debt issuance program. This latest move follows the successful issuance of Series 4 and 5 in June 2024, which together raised ₦42.79 billion at attractive discount rates of […]
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