Tag: Securities and Exchange Commission

SEC to strengthen borrowing regulatory framework in Nigeria
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SEC to strengthen borrowing regulatory framework in Nigeria

The Securities and Exchange Commission has announced plans to strengthen the regulatory framework for borrowing by both governments and corporate entities in Nigeria. SEC’s Director-General, Dr. Emomotimi Agama, made the announcement in a statement issued on Wednesday in Lagos, emphasizing the importance of borrowing as a key component of the financial system and the need […]

SEC to strengthen borrowing regulatory framework in Nigeria
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Nigerian banks, others raise N2.7tn from capital market, reports SEC

The Securities and Exchange Commission announced on Monday that Nigerian banks and other companies have raised a total of N2.7 trillion from the capital market in the first 11 months of 2024. The funds were generated through various investments, securities, and financial instruments, aimed at expanding business operations, supporting economic growth, and enhancing market activities. […]

Federal authorities arrest man for US SEC account hack
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Federal authorities arrest man for US SEC account hack

Federal authorities announced on Thursday the arrest of Eric Council Jr. in Alabama, accusing him of involvement in the hacking of the United States Securities and Exchange Commission X account earlier this year. According to an indictment, the hack occurred on January 9, when a false post was published claiming that the SEC had approved […]

New SEC regulation to enhance transparency in bank recapitalization
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New SEC regulation to enhance transparency in bank recapitalization

The Director-General of the Securities and Exchange Commission, Dr. Emomotimi Agama, has highlighted the impact of newly issued guidelines in boosting transparency during the ongoing banking recapitalization process. In a statement released on Sunday, Agama highlighted the importance of these guidelines in fostering increased participation from Nigerians and enhancing the overall clarity of the process. […]

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SEC to clamp down on unregistered crypto exchanges

The Securities and Exchange Commission has announced that it will soon initiate enforcement actions against individuals and business entities, including cryptocurrency exchanges, operating outside its regulatory framework. In a statement released on Sunday, SEC Director-General Dr. Emomotimi Agama emphasized the commission’s commitment to safeguarding investors, according to Nairametrics. This follows the SEC’s recent approval in […]

SEC to strengthen borrowing regulatory framework in Nigeria
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SEC threatens banks with N1m over recapitalisation rule violations

The Securities and Exchange Commission has threatened banks with a N1 million penalty if they fail to submit comprehensive capital increase applications, to enforce compliance with banking sector recapitalisation standards. This was disclosed in a statement by SEC, according to The PUNCH. It stated that banks must adhere to certain norms and procedures to acquire […]

SEC seeks measures to reduce N190bn unclaimed dividend
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SEC seeks measures to reduce N190bn unclaimed dividend

Melvin Onwubuke   The Securities and Exchange Commission said that it has intensified strategies for reducing the level of unclaimed dividends by investors on the capital market. After holding a three-day investor clinic in Yobe State to address investors’ complaints, the apex regulatory body entrusted with regulating and developing Nigeria’s capital market disclosed this to […]

SEC seeks measures to reduce N190bn unclaimed dividend
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SEC announces stricter screening for digital asset providers

The Securities and Exchange Commission has unveiled plans to enhance the licensing, registration, and screening procedures for digital and virtual asset service providers. The SEC aims to strengthen market integrity and protect investors by preventing individuals with criminal backgrounds from participating as operators in the capital market. The new guidelines will complement the existing regulatory […]

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SEC announces N177bn unclaimed capital market dividends

  The Nigeria’s Securities and Exchange Commission on Friday reported a rise from N168 billion in unclaimed dividends in 2020 to N177 billion in 2021. According to The PUNCH, this was disclosed by the Director-General, SEC, Lamido Yuguda in Abuja while speaking on some of the outcomes of the second Capital Market Committee meeting. Responding […]

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SEC workers protest unpaid allowances, others

Aggrieved staff members of the Securities and Exchange Commission on Thursday held hours-long protest at the headquarters of the commission to communicate their demands which they said the management of the agency has refused to address over time. During the protest, the staff of the commission expressed dismay over issues such as unpaid allowances, delay […]