Oando PLC has challenged at the Appeal Court the findings and sanctions on it by the Securities & Exchange Commission ( SEC ), following an alleged investigation, which began in May 2017. SECs had placed technical suspension on Oando PLC shares and ordered a forensic audit into the company’s affairs. A statement published on Oando’s […]
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The administrative panel of inquiry set up by the Minister of Finance, Mrs. Kemi Adeosun, to investigate corruption allegations against the suspended Director-General of the Securities and Exchange Commission, Mr. Mounir Gwarzo, is to submit its report before the end of the year. Adeosun had two weeks ago suspended Gwarzo and two managers of the […]
Read More Oando Plc says it has taken no action that is capable of undermining the authority of the apex regulator of Nigeria’s capital market, Securities and Exchange Commission. But the oil major noted that its actions were meant to protect the company and its shareholders against the actions taken under the leadership of Mounir Gwarzo, the […]
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The public’s interest in all things bitcoin and efforts by entrepreneurs to fund their businesses with digital currencies is starting to draw more attention from regulators. The head of the Securities and Exchange Commission this week warned investors on the risks of investing in largely-unregulated digital currencies. Just this month, the SEC halted two attempts […]
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Recent calls in several quarters for the Federal Government to reinstate the suspended Director General, Securities and Exchange Commission (SEC), Mr. Mounir Gwarzo, back to office, have drawn the ire of capital market stakeholders who gave reasons why the embattled DG should remain suspended. According to them, reinstating him to the office while investigation on […]
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Authorities at the Nigerian Stock Exchange (NSE) has revoked the operating licence and expelled Midland Capital Markets Limited from the capital market, bringing to 90 the number of stockbrokers so far expelled from the market this year. A regulatory document obtained by The Nation indicated that the decision to revoke the operating licence and expel […]
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Oando’s Nigeria Plc Shareholders under the aegis of Trusted Shareholders’ Association have issued 7 days ultimatum to the Minister of Finance, Mrs. Kemi Adeosun within which to resign her position, alleging a breach of public trust and confidence. The shareholders also asked President Muhammadu Buhari to immediately sack the Minister should she decline the call […]
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Nigerian shareholders have called on the capital market regulators to commence a forensic audit of Nigeria’s 7Up Bottling Company to unravel circumstances surrounding recent news of a planned buyout by Affelka, its parent company. The shareholders who spoke to Daily Sun on telephone had argued that they were unconvinced that the recent takeover notification of […]
Read More The House of Representatives is set to probe the suspension of the Director-General of the Securities and Exchange Commission, Mr. Mounir Gwarzo, by the Minister of Finance, Mrs. Kemi Adeosun, over alleged financial abuses. To this end, the lower chamber of the National Assembly want both parties to “maintain the status quo” pending the outcome […]
Read More The suspended Director-General of the Securities Exchange Commission, Mr. Mounir Gwarzo, will on Monday appear before the Independent Corrupt Practices and Other Related Offences Commission as part of investigations into corruption allegations against him. The Minister of Finance, Mrs. Kemi Adeosun, had on Wednesday suspended Gwarzo and two other officials of the commission for alleged […]
Read More The Minister of Finance, Mrs. Kemi Adeosun, on Wednesday announced the suspension of the Director-General of the Securities and Exchange Commission, Mounir Gwarzo, over allegations of financial impropriety levelled against him. Also suspended were two management staff members of the commission. They are the Head of the Media Division, Mr. Abdulsalam Naif; and the Head […]
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Alhaji Mukhtar is the National Chairman of Trusted Shareholders Association of Nigeria. The shareholder activist recently spoke to Daily Sun on some of the major development on the Nigerian capital market and lamented that regulators have allowed some of the problems in the market to fester. Excerpt: My views on controversy surrounding Oando Plc It […]
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