Tag: SEC

New SEC regulation to enhance transparency in bank recapitalization
News

N500bn recapitalisation: SEC outlines guidelines for banks

The Securities and Exchange Commission has released a framework to facilitate the Central Bank of Nigeria’s bank recapitalization initiative. This framework, which was posted on the SEC’s website on Friday, intends to ensure a seamless, transparent, and efficient capital-raising process for banks and holding companies participating in the programme. The framework defines the norms and […]

News

Capital market innovation will boost sustainable growth – SEC

The Director General of the Securities and Exchange Commission, Emomotimi Agama has called on capital market operators to embrace innovation, as a key factor in the capital market’s resilience, efficiency, openness, and sustainable growth. This was disclosed in a statement by Agama at the 2024 Capital Market Solicitors Association Annual Business Summit in Lagos with […]

New SEC regulation to enhance transparency in bank recapitalization
Business

SEC seeks end to illicit funds in banking recapitalisation

The Securities and Exchange Commission has affirmed its stance against the inflow of illegal funds into the capital market through the fresh banking recapitalisation exercise. This disclosure was made by the Executive Director (Operations) of the commission, Dayo Obisan, on Thursday at a symposium organised by the Association of Capital Market Academics of Nigeria, with […]

SEC to strengthen borrowing regulatory framework in Nigeria
News

SEC virtual CMC meeting to boost market confidence

The Securities and Exchange Commission of Nigeria has announced there will be a virtual Capital Market Committee meeting for the first quarter of 2024. This was disclosed by the Security and Exchange Commission to the Press on Monday. The CMC is made up of the SEC, capital market operators, trade groups, and other stakeholders. The […]

SEC to enforce stricter regulations for digital assets
News

SEC to enforce stricter regulations for digital assets

A new set of standards for the nation’s virtual asset service providers and digital asset operators is about to be released, according to the Securities and Exchange Commission. The SEC stated that “The new rules will guarantee that criminals do not enter the nation’s capital market according to The Cable. The Federal Government had accused […]

NGX halts trading of delisted-GSK shares
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GSK gets SEC approval to delist from NGX

GlaxoSmithKline Consumer Nigeria Plc has announced that it has received formal Securities and Exchange Commission approval for its proposed scheme of arrangement. This will lead to minority investors getting a total cash payment of N17.42 per share for each share owned. GlaxoSmithKline UK, a prominent pharmaceutical company, announced its pullout from Nigeria in August after more […]

SEC grants NASD approval to launch digital securities platform
Business

SEC grants NASD approval to launch digital securities platform

The Nigerian Securities and Exchange Commission has approved NASD Plc’s launch of its Digital Securities Platform, powered by Blockstation, under the Regulatory Incubation Program. The Times reported that the NASD in a press statement stated that this follows the Central Bank of Nigeria lifting of the ban on trading in digital assets, which represents a significant step towards […]

US SEC approves ETFs to track Bitcoin
Crypto News

US SEC approves ETFs to track Bitcoin

The United States Securities Exchange Commission on Wednesday approved the first U.S.-listed exchange-traded funds to track Bitcoin. Notwithstanding warnings from several authorities and investor advocates over the products’ hazards, the Securities and Exchange Commission said it had accepted 11 applications, including those from BlackRock, Ark Investments/21Shares, Fidelity, Invesco, and VanEck. According to issuers, the majority […]

SEC closes down firm over illegal investments
Business

SEC closes down firm over illegal investments

The Securities Exchange Commission has claimed that due to unlawful investment and other capital market operations, it has closed Ready Finance Investors Limited’s locations. The Punch reported that the action, according to a statement released by the commission on Thursday, was a component of efforts to purge dishonest capital market operators from Nigeria’s capital market and provide genuine […]

SEC closes down firm over illegal investments
Business

SEC to promote infrastructure financing

The director general of the Securities and Exchange Commission, Lamido Yuguda, has stated that the commission’s 2019 focus will be on capital market funding for infrastructure. According to The Punch, Yuguda made this statement at the Capital Market Committee’s third-quarter press briefing, which was conducted in Lagos on Friday. He declared: “The Commission’s objective for 2024 […]

SEC closes down firm over illegal investments
Business

SEC to get N5trn in Shari’ah-compliant listings

The Securities and Exchange Commission has reiterated its objective to list 50 Shari’ah-compliant items by 2025, with a total market value of over N5 trillion. According to The Times, the Executive Commissioner of Operations, Mr. Dayo Obisan, represented the Director-General of the SEC, Mr. Lamido Yuguda, at a workshop organized in Abuja for indigenous Shariah talent […]

Binance files protective court order against SEC
Crypto

Binance files protective court order against SEC

Global cryptocurrency company, Binance, made a bold move seeking refuge under a protective court order against the US Securities and Exchange Commission. This audacious maneuver comes in direct response to what Binance terms the regulator’s relentless pursuit of information through “overbroad” and “unduly burdensome” requests. In an emphatic legal salvo, BAM Trading, the operational nucleus […]

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