Tag: SEC

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 […]

Nigeria Breweries suffers N70bn FX loss
Foods

2.1bn Nigerian Breweries shares registered on SEC

The Securities and Exchange Commission has registered the 2,055,226,476 bonus shares that Nigerian Breweries shareholders authorized at an extraordinary general meeting on December 8, 2022. Nairametrics reported that this was made known in a corporate declaration that was issued to the Nigerian Exchange Limited. According to the statement, which was signed by the company secretary, Uaboi Agbbaku, […]

SEC confident PAPSS'll boost trading opportunities in Africa
Business

SEC confident PAPSS’ll boost trading opportunities in Africa

The  Securities and Exchange Commission has said that the Pan-African Payment Settlement System would promote intra-African commerce and aid in the diversification of the capital market. According to Nairametrics, the head of the SEC’s Office of the Chief Economist, Dr. Okey Umeano, said this in an interview. A Memorandum of Understanding was recently signed between the Nigerian Exchange and the […]

News Oil and Gas

Court extends Oando’s minority share acquisition deadline

Oando Plc has been granted a 90-day court-ordered extension to create and file the Scheme of Arrangement Document for the acquisition of shareholders’ minority shareholding. This was contained in a statement released on Thursday which also revealed that Venus Construction Company Limited, one of Oando’s minority shareholders, had petitioned the court to order Ocean and […]