Tag: SEC

SEC to enforce stricter regulations for digital assets
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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
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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
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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
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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
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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
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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 […]