Tag Archives: Securities and Exchange Commission

Oando audit in ‘doubt’ as Emir Sanusi brokers peace

A key shareholder of Nigeria’s indigenous oil and gas firm, Oando PLC, has withdrawn his petition to the Securities and Exchange Commission (SEC), following a peace deal with the oil firm’s chief executive officer, Wale Tinubu. The decision has put in doubt the possibility of a proposed forensic audit of the company going forward. Dahiru Mangal, a shareholder of the ...

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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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SEC threatens to transfer unregularised shareholdings to development fund

The Securities and Exchange Commission (SEC), has warned all concerned bodies to transfer to the Capital Market Development Fund (CMDF), all shares not consolidated into one account by investors, who subscribed for them using multiple identities. The SEC’s Acting Director-General, Abdul Zubair, disclosed this in Abuja, at a media briefing on the on-going capital market initiatives by the Commission. According ...

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FG reduces domestic borrowing for corporate entities – DMO

The Debt Management Office (DMO) has said that the Federal Government was reducing its exposure in the domestic market to pave way for borrowings by corporate entities. The DMO’s Director-General, Patience Oniha, said, in Lagos, that government had reduced its exposure in the bond market for corporate entities to raise funds. “We are reducing the amount we borrow in the ...

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SEC to partner with media on investor education

The Securities and Exchange Commission (SEC) has pledged to work with finance correspondents to ensure proper reportage of the capital market and properly educate the investing public. The Acting Director-General of SEC, Abdul Zubair, made the pledge when a group of Abuja-based journalists visited him in Abuja. He commended the journalists for their assistance, so far, in propagating the initiatives ...

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SEC partners IST to curb capital market infractions

The Securities and Exchange Commission (SEC), on Tuesday, expressed its readiness to partner with Investments and Securities Tribunal (IST) and other relevant bodies to ensure zero tolerance on infractions in the nation’s capital market. Its acting Director-General, Abdul Zubair, made the assertion, when the Chairman of the IST, Isaiah Idoko-Akor, and its members paid him courtesy visit in Abuja. Zubair ...

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Investors are not confident to invest in Nigeria yet – IMF

The International Monetary Fund (IMF) has said that Nigeria still attracts investors. The Senior Financial Sector Expert, Debt and Capital Market Instruments Division, Monetary and Capital Markets Department, IMF, Miriam Tamene, said this, in a statement issued by Securities and Exchange Commission’s (SEC) management, in Abuja. Tamene noted that the IMF was pleasantly surprised to receive numerous indication of interest ...

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Shareholders task SEC new acting boss on market integrity

Shareholders on the Nigerian capital market, on Wednesday, urged the newly appointed Director-General of the Securities and Exchange Commission (SEC),  Abdul Zubair, to step up measures aimed at safeguarding market integrity The shareholders said in Lagos that safeguarding the integrity of the capital market space should be the director-general’s priority to boost investor confidence. The immediate past Zonal Secretary, Independent ...

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Adeosun suspends SEC DG, two others

The Minister of Finance, Kemi Adeosun, has suspended the Director-General of the Securities and Exchange Commission (SEC), Mounir Gwarzo. The Advocate.ng gathered that Gwarzo was suspended in order to allow for an unhindered investigation of several allegations of financial impropriety levelled against him. This was contained in a statement signed by Deputy Director, Press, Federal Ministry of Finance, Patricia Deworitshe, ...

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