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JenneteUgo Anya
- September 10, 2024
Nigerian Breweries Plc Starts ₦599bn Rights Issue
Nigerian Breweries Plc, one of the leading brewing companies in Nigeria, has announced the launch of a ₦599.1 billion rights issue following the approval of its shareholders in April 2024. This announcement comes after receiving clearance from the Securities and Exchange Commission (SEC) and NGX Regulation Limited to proceed with the rights issue aimed at […]
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- September 2, 2024
How Banks Regulatory Scrutiny Boosts Investors’ Confidence
The formation of a tripartite committee by the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), and the Nigeria Deposit Insurance Corporation (NDIC) to scrutinise the new capital being raised by banks marks a significant development in Nigeria’s banking sector. This action is not just a regulatory necessity but also a critical […]
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- August 30, 2024
SEC Grants Approval-in-Principle To 2 Digital Asset Exchanges
The Securities and Exchange Commission (SEC) has granted ‘approval-in-principle’ to two digital asset exchanges, marking a crucial step under its Accelerated Regulatory Incubation Programme (ARIP). This decision aligns with the SEC’s goal of fostering innovation while ensuring investor protection. The companies receiving this approval are Busha Digital Limited and Quidax Technologies Limited. Busha Digital operates […]
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- August 14, 2024
SEC Grants Access Holdings Extension On N351bn Rights Issue
The Securities and Exchange Commission (SEC) has approved a 10-day extension for Access Holdings Plc’s N351 billion rights issue, moving the new deadline to August 23, 2024. The extension follows disruptions caused by nationwide protests that affected business operations across Nigeria. The rights issue, initially set to close on August 14, 2024, opened on July […]
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- August 8, 2024
SEC To Unveil Vision For Nigeria’s Capital Market Growth At CMC Meeting
The Director-General of the Securities and Exchange Commission (SEC), Mr. Emomotimi Agama, is set to unveil a comprehensive vision for the development of Nigeria’s capital market during the upcoming Second Capital Market Committee (CMC) Meeting. In a recent released by SEC, it was stated that the event is scheduled for August 14, 2024, in Lagos. […]
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- August 7, 2024
CBN Approves Merger Between Unity Bank, Providus Bank
The Central Bank of Nigeria (CBN) has officially approved the merger between Unity Bank Plc and Providus Bank Limited. This landmark decision marks the first merger under the new CBN mandate for banks to bolster their capital bases, aiming to fortify the stability of Nigeria’s financial system. The merger is now pending approval from the […]
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- August 6, 2024
SEC Says Bank Recapitalisation Is Key To Nigeria’s Trillion-dollar Economy
Director- General (DG) of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has said the bank recapitalisation is for Nigeria’s aspiration to achieve a trillion-dollar economy. Speaking at a recent forum, on the ongoing bank recapitalisation efforts in Abuja, Dr. Agama outlined the crucial steps needed to unlock the nation’s economic potential. Dr. Agama […]
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- July 29, 2024
CAC Sets New Guidelines For Bank Recapitalisation, Mergers
The Corporate Affairs Commission (CAC) has unveiled new guidelines to support Deposit Money Banks (DMBs) in Nigeria as they undergo recapitalisation. This initiative, announced recently via the commission’s official Facebook page, underlines the need for immediate compliance, in accordance with Section 8 (1) (e) of the Companies and Allied Matters Act No. 3 of 2020. […]
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- July 29, 2024
SEC Approves NGX Impact Board To Enhance Sustainability
The Securities and Exchange Commission (SEC) has granted approval to the Nigerian Exchange Limited (NGX) to launch its Impact Board, a specialised platform aimed at enhancing the listing and visibility of sustainability-focused financial instruments. The announcement was made during a Closing Gong Ceremony held at the NGX headquarters in Lagos on July 27, 2024. The […]
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- July 26, 2024
SEC Launches Initiative To Tackle Unclaimed Dividends
The Securities and Exchange Commission (SEC) has announced a new identity management initiative aimed at addressing the issue of unclaimed dividends in Nigeria. This initiative was unveiled during a recent workshop on Identity Management for the capital market, held in Lagos. Director- General (DG) of the SEC, Mr. Emomotimi Agama, emphasised the importance of the […]
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