Tag Archives: Security and Exchange Commission

SEC DG’s suspension instills discipline in capital market – Adeosun

The Minister of Finance, Kemi Adeosun, on Tuesday, said that the suspension of former Director-Genearl, Security and Exchange Commission (SEC), Munir Gwarzo, was a right move made to instil confidence in the capital market. Adeosun stated this uring the House of Representatives Investigative Hearing on Gwarzo’s suspension. “The decision to suspend the SEC DG was the right one. It has instilled confidence ...

Read More »

Investors in cryto-currencies are gamblers – Emefiele

The Central Bank of Nigeria (CBN), on Thursday, said that it would not render support to Nigerians investing in cryptocurrency, describing such investment has gambling. The Governor of the CBN, Godwin Emefiele, stated this, in Abuja, during an interview with Bloomberg. Emefiele’s warning came on the heels of increasing transactions in cryptocurrencies in Nigeria. Data from LocalBitcoins, a Bitcoin start-up ...

Read More »

7UP shareholders Affelka scheme of arrangement

Seven-Up Bottling Company PLC shareholders have approved the Scheme of Arrangement for the acquisition of 26.8 per cent shares by Affelka in South Africa. The shareholders gave the approval at a court-ordered meeting, convened at the instance of the Federal High Court, in Lagos. Affelka S.A. with the approval would now increase its ownership of the company to 100 per ...

Read More »

Financial experts call on CBN to close exchange rate gap for more FDIs

To make the nation’s foreign exchange (forex) market attractive for foreign direct investments (FDIs) in 2018, the Central Bank of Nigeria (CBN) must do all within its powers to ensure rates’ harmonisation. This will mean closing the huge gap between the official exchange rate of N306/$ and the parallel market rate of N360/$, as it is a disincentive to genuine ...

Read More »

SEC begins forensic audit of Oando Plc

The Securities and Exchange Commission (SEC) has begun the forensic audit of Oando PLC, contrary to reports that the exercise had stopped due to the suspension of the Director-General of the Commission, Mounir Gwarzo. A letter obtained by the News Agency of Nigeria (NAN), on Tuesda,y in Abuja, showed that SEC had written to the Group Chief Executive Officer of ...

Read More »