Tag Archives: SEC

SEC proposes guidelines to digitalize all capital market operations

The Securities and Exchange Commission (SEC) has proposed some guidelines that will allow capital market operators and investors to digitize all of their processes. The requirements are contained in the Minimum Operating Standards for Information Technology for capital market operators recently exposed to the public, released by the SEC. The commission argued that rules establishing basic market operating criteria were ...

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Dangote Cement Plc secures SEC’s approval to file Annual Financial Statement

Dangote Cement Plc has announced that the Securities and Exchange Commission (SEC) has granted the company approval to file its Annual Audited Financial Statements on or before February 28, 2022, which is within sixty days of its year-end. SEC also granted approval for Dangote Cement not to file its Fourth Quarter Unaudited returns within thirty days of its ending period. ...

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SEC begins charging regulatory fee on fixed income secondary market transactions

Securities and Exchange Commission (SEC), will commence charging regulatory fee on fixed income secondary market transactions with effect from January 1, 2022. SEC is the regulatory agency for capital market in Nigeria. In a circular released yesterday, SEC stated that the commencement of regulatory fee on bonds and other fixed-income transactions on the secondary market, is pursuant to Section 13(u) ...

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SEC warns companies to stop elective payments, distribution of dividends

Security and Exchange Commission (SEC) has warned quoted companies and capital market registrars to desist from selective payments and distribution of dividends. Director-General, Securities and Exchange Commission (SEC) Mr Lamido Yuguda stated this at the 10th annual conference of the Institute of Capital Market Registrar’s (ICMR) with the theme ‘Reinventing the Nigerian Capital Market for Growth: The Digital Technology Approach, ...

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SEC promises to ensure strict regulation of capital market

The regulatory body for capital market, the  Securities and Exchange Commission (SEC) has promised to intensify monitoring and surveillance of the capital market in order to curb unethical conduct. It should be noted that SEC has repeatedly warned the investing public against fraudulent and bogus investment schemes with unreasonable high returns. This disclosure is contained in a statement issued by ...

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Crowdfunding Platform: SEC asks investors to comply with registration requirements by June 30

The Securities and Exchange Commission (SEC) has directed all existing investment crowdfunding portals/digital commodities investment platforms to gace the knowledge of the  eligibility criteria for operating a Crowdfunding Portal It also alerted all stakeholders to  comply with the registration requirements or cease operations by June 30. The information to this effect was released by the commission on Wednesday in Abuja ...

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SEC, CBN working on how to regulate cryptocurrency operations- SEC DG

The Securities and Exchange Commission (SEC) has made a disclosure that it is working with the Central Bank of Nigeria (CBN) for a  regulation of cryptocurrencies in the country. Recall that CBN had in February 2021, barred deposit money banks  from doing business with cryptos and other digital assets. The Director-General of SEC, Lamido Yuguda, made this remark at the ...

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3 million Nigerians lost N18bn to Ponzi schemes- SEC DG

The Securities and Exchange Commission (SEC) says that 3 million Nigerians have lost about N18 billion to Ponzi schemes . It described the activities of Ponzi schemes as threat to investors, the functioning of a fair and orderly financial market as well as the development of the economy at large. It assured the public that it will continue to apply ...

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Cryptocurrency Ban: Senate summons CBN Governor, SEC DG

The Senate has mandated its Committees on Banking, Insurance and Other Financial Institutions, ICT and Cybercrimes and Capital Market to invite the Central Bank of Nigeria, Governor, Godwin Emefiele to clarify controversies surrounding the cryptocurrency operations.. The Senate also invited the Director-General of the Securities and Exchange Commission (SEC), Lamido Yuguda to appear before it. The upper legislative chamber made ...

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Union bank: CBN, SEC complete rights issues

The Central Bank of Nigeria (CBN) and Securities and Exchange Commission (SEC) have concluded share allotment and capital clearance review of the N50 billion rights issue of Union Bank of Nigeria. The bank said in a statement in Lagos that the share allotment and capital clearance review by the regulators was concluded in December 2017. It said that the rights ...

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