Oando Nigeria Plc is being investigated by the Securities and Exchange Commission over observed malpractices in the company’s financial statements. The investigation was reported to have been triggered by the petition filed by some foreign investors over the shareholding structure following the $1.65bn paid by Oando for the acquisition of the oil production assets of […]
Read More
Guinness Nigeria Plc has received the Securities and Exchange Commission and the Nigerian Stock Exchange’s approvals to float a rights issue of ₦39.70bn. The company said in a statement on Tuesday in Lagos that it had received clearance of the issue documents from both regulators to list the new shares on the NSE. It said […]
Read More The Securities and Exchange Commission (SEC) has extended the deadline for stoppage of issuance of physical dividend warrants in the nation’s capital market to December 31, 2017. Mr. Naif Abdussalam, SEC Head, Corporate Communications, who disclosed this in an interview in Lagos yesterday, said the deadline was extended to give room for investors to key […]
Read More Nigeria’s apex capital market regulatory authority, the Securities and Exchange Commission (SEC) has commended the Debt Management Office (DMO) for the proposed Federal Government maiden ₦100.0 billion Islamic debt instrument (Sukuk) in the Nigerian Capital Market. According to the apex regulator, the debt instrument is a major milestone for Nigeria as it would catalyze the […]
Read More
Forte Oil Plc has made its plans known, to sell shares worth ₦20 billion to institutional and high net worth investors, and has applied for regulatory approval for the transaction. The energy firm said on Monday that the capital raising would be done as a public offer for shares through a book-building process to help […]
Read More
The Nigeria Employers Consultative Association, NECA, has expressed concern over the non-approval by the National Assembly of Board of some key regulatory agencies, including the Securities and Exchange Commission, SEC; National Pensions Commission, PenCom; Financial Reporting Council of Nigeria, FRCN; and Nigerian Social Insurance Trust Fund, NSITF. Speaking at a press conference to mark the […]
Read More The Securities and Exchange Commission, SEC, plans to revoke the registration of 400 capital market professionals over failure to comply with the commission’s directive on updated information of their companies by July 31, 2017. SEC’s circular to the companies read: “Any firm whose response is not received within this time frame would be considered inactive […]
Read More In a bid to eliminate some bottlenecks in the nation’s capital market, the Securities and Exchange Commission, SEC, has commenced moves to ensure that the process of issuing new shares is completed within three to four weeks and at less cost to the issuers. The Director General of SEC, Mr. Mounir Gwarzo, revealed this to […]
Read More In a bid to curb the growth of unclaimed dividend in the Nigerian capital market, the Securities and Exchange Commission (SEC) has provided a portal in which unregistered investors could register for payment of their dividends electronically. In a statement released on SEC’s website yesterday, it said that it has provided a platform for investors […]
Read More
Securities and Exchange Commission (SEC) and Nigerian Stock Exchange (NSE) have retracted licences of 21 firms for various infractions, including inability to meet minimum capital requirement, fraud and inactivity. With the deregistration of the firms and revocation of their licences, the firms have been expelled from the market. Besides, all former top officials of the […]
Read More
Securities and Exchange Commission (SEC) has commenced the process of reviewing downward the costs of issuance in the primary market with a view to encouraging companies and governments to increase the use of capital market for their financing. A circular on proposed new rule and sundry amendments to the rules and regulations of the Commission […]
Read More The Securities and Exchange Commission, on Tuesday, said it had paid about N42bn out of about N117bn unclaimed dividends to investors. The Director-General, SEC, Mr. Munir Gwarzo, said this at a public hearing organised by the Joint Senate and House of Representatives Committees on Capital Market on “The need to determine the status of unclaimed […]
Read More
