Tag: SEC

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 […]

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 […]

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 […]

SEC closes down firm over illegal investments
News

SEC denies not auditing financial statements since 2014

The Securities and Exchange Commission of Nigeria has denied reports claiming that it has not audited its financial statements since 2014. Nairametrics reported that In a statement issued on Friday and signed by its management, the SEC acknowledged that it is a staunch supporter of top-notch corporate governance standards and reiterates its commitment to supporting these objectives. The SEC […]

SEC grants NASD approval to launch digital securities platform
News

SEC, SON partner to develop standards for commodities

The Standards Organisation of Nigeria and the Securities and Exchange Commission are working together to create standards for commodities. According to The Times, in an effort to boost the economy, create jobs for Nigerians, and give the country foreign exchange, the director general of the SEC, Mr. Lamido Yuguda, noted that Nigeria had a variety of commodities that may be […]

SEC to enforce stricter regulations for digital assets
Business

SEC permits security dealers to create digital platform

The Securities and Exchange Commission has granted the National Association of Securities Dealers permission to start implementing its Digital Securities Platform as part of the Regulatory Incubation initiative. NASD Plc is an Over-the-Counter securities exchange that enables trading of all securities of unquoted firms, especially in Nigeria. The SEC created the Regulatory Incubation program to meet the […]

SEC closes down firm over illegal investments
News

Redesigned e-dividend platform to launch July 31st – SEC

Nigeria’s Securities and Exchange Commission announced the revised electronic Dividend Mandate Management System, which would go live on July 31st. This information was provided by the Director-General of the SEC, Mr. Lamido Yuguda, on Thursday in Abuja at the first quarter post-Capital Market Committee media conference. The Inter-Bank Settlement System’s Document Management System can complete […]