SEC Halts Centurion Registrars’ Operations

The Securities and Exchange Commission (SEC) has suspended Centurion Registrars Limited, along with its sponsored individuals and directors, from participating in any capital market activities due to unresolved complaints.

In a statement dated March 14, 2025, the SEC said the suspension, which takes immediate effect, was enforced under its regulatory authority as stipulated in Section 38(4) and (5) of the Investments and Securities Act, 2007, and Rule 34(1)(e) of the SEC Consolidated Rules and Regulations, 2013.

The commission cited Centurion Registrars’ failure to comply with regulatory directives and its inability to address multiple complaints lodged against it. As a result, all clients of the firm have been advised to contact Africa Prudential Plc for guidance on transferring their portfolios to another registrar of their choice.

Further directives from the SEC instructed key market institutions, including the Nigerian Exchange Group (NGX), the Institute of Capital Market Registrars (ICMR), the Chartered Institute of Stockbrokers (CIS), the Central Securities Clearing System (CSCS) Plc, and all capital market trade associations, to discontinue any dealings with Centurion Registrars and its principal officers.

In a related decision, the SEC also announced the immediate cancellation of Mainland Trust Limited’s registration as a capital market operator, citing regulatory violations.