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 […]
Read MoreSenate 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 […]
Read MoreNASD 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 […]
Read MoreSEC 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, […]
Read MoreSEC 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 […]
Read MoreBanks, 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, […]
Read MoreNGX Invest Facilitates Over N1.26tr For Banks’ Recapitalisation
NGX Invest, the digital offering platform of the Nigerian Exchange (NGX), has raised over N1.26 trillion for banks through various rights issues and public offerings. This significant achievement highlights the growing role of the platform in capital-raising efforts across the financial sector. FBN Holdings, which recently launched its N150 billion rights issue, becomes the latest […]
Read MoreSEC Plans To Launch Capital Formation Office For MSMEs
In a bid to address the financing challenges faced by micro, small, and medium enterprises (MSMEs) in Nigeria, the Securities and Exchange Commission (SEC) has announced its progress toward establishing a dedicated office for small business capital formation. This office, which is at an advanced planning stage, will provide tailored support to companies seeking to […]
Read MoreSEC To Review Applications For Capital Market Operators
The Securities and Exchange Commission (SEC) has revealed that the commission will focus on applications from aspiring capital market operators and other relevant stakeholders in its third registration meeting for 2024. The meeting scheduled for October 29 to November 1, was announced in a recent circular, stating that the meeting will focus on applications from […]
Read MoreSEC To Relax Crowdfunding Rules, To Ease Access To Capital For MSMEs
The Securities and Exchange Commission (SEC) has revealed plans to ease regulations on crowdfunding to improve small businesses’ ability to access much-needed capital. This recent move, aimed at fostering greater financial inclusion for startups and smaller firms, comes as Nigeria grapples with a challenging economic environment marked by high interest rates. Director- General (DG) of […]
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