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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
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 12, 2024
SEC Calls For Stronger Corporate Governance In Nigerian Banks
The Securities and Exchange Commission (SEC) has called on Nigerian banks to enhance corporate governance and strengthen risk management frameworks as the sector embarks on a critical recapitalisation process. This initiative is part of a broader strategy to boost investor confidence and ensure long-term stability in the banking industry, valued at over $100 billion. Speaking […]
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- December 9, 2024
SEC Nigeria Leverages Blockchain To Foster Trust, Transparency
The Securities and Exchange Commission (SEC) is actively exploring the integration of blockchain technology to bolster trust and transparency in Nigeria’s capital market. Dr. Emomotimi Agama, the SEC’s Director-General, revealed this during the annual conference of the Capital Market Correspondents Association of Nigeria in Lagos. Represented by Mr. John Achile, Divisional Head of Legal and […]
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- December 6, 2024
Senate Approves Investments, Securities Bill (ISB) 2024
The Senate has passed the Investments and Securities Bill (ISB) 2024, a landmark legislation aimed at revitalising Nigeria’s capital market and boosting investor confidence. The bill, which seeks to repeal the Securities and Exchange Commission (SEC) Act, scaled its third reading recently, marking a significant milestone for the nation’s financial sector. The ISB 2024 introduces […]
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- December 3, 2024
NASD Urges Companies To Comply With SEC Rules
The NASD OTC Exchange has urged public limited companies to adhere to the Securities and Exchange Commission’s (SEC) regulations mandating the trading of unlisted securities exclusively on SEC-registered Over-the-Counter (OTC) exchanges. According to the SEC’s rule, the purchase, sale, and transfer of unlisted securities are prohibited outside a registered stock exchange to ensure transparency and […]
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- December 3, 2024
SEC Introduces New Requirement For Capital Market Operators’ Registration
The Securities and Exchange Commission (SEC) has introduced a new requirement for capital market operators (CMOs) seeking annual registration renewals. Operators must now provide evidence of registration with a recognised capital market trade group to complete their renewal process. The directive, outlined in a recent statement signed by Hafsat Rufai, Director of the Registration, Exchanges, […]
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- November 28, 2024
SEC Warns Against Cryptocurrency Fraud
The Securities and Exchange Commission (SEC) has issued a strong warning to investors and the general public, advising them to steer clear of Marino FX Ltd, a company falsely claiming to be a licensed cryptocurrency exchange. In a recent statement published on its official website, the SEC clarified that Marino FX Ltd is neither registered […]
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- November 26, 2024
Banks, Companies Raise Over ₦2.7trn From Capital Market-SEC
The Securities and Exchange Commission (SEC) has revealed that over ₦2.7 trillion has been raised in Nigeria’s capital market by banks and other companies. This amount, which includes equity capital, excludes funds raised by fund managers. Notably, banks accounted for approximately ₦1.7 trillion of the total through recapitalisation exercises. Dr. Emomotimi Agama, the SEC Director-General, […]
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