Browsing Tag

SEC

Unclaimed dividends hit N180bn as SEC strives to achieve zero percent

Babatunde Abdulfatah Jun 29, 2022 0

Alhaji Lamido Yuguda, the Director-General, Security and Exchange Commission (SEC), says the commission is working to ensure it reduces the level of unclaimed dividends to zero per cent. In an interactive session with editors on Tuesday…

Fraud: Capital market participants to get unique identifiers — SEC

Ginika Okoye Jun 6, 2022 0

The Securities and Exchange Commission (SEC) says capital market participants are to be given unique identifiers to curb issues of fraud in the market. According to SEC, the unique identifiers will also reduce high number of unclaimed…

SEC, Group to Train Security Agencies, Lawyers on Tackling Ponzi Scheme

Ginika Okoye Mar 1, 2021 0

The Securities and Exchange Commission (SEC) in collaboration with the Attorney General Alliance Africa (AGA-Africa) will train law enforcement agencies, lawyers and the public on prevention of ponzi scheme operations in the…

Cryptocurrency : SEC to Suspend Admittance of Persons Affected by CBN Circular

Chinyere Joel-Nwokeoma Feb 12, 2021 0

The Securities and Exchange Commission (SEC) says it will put on hold, admittance into its Regulatory Incubation Framework for Fintech firms, all persons affected by the Central Bank of Nigeria (CBN) crytocurrencies circular.…

U.S Supreme Court sets limits on SEC’s power to recoup ill-gotten money

Emmanuel Okara Jun 22, 2020 0

The U.S. Supreme Court on Monday placed limits on the Securities and Exchange Commission’s (SEC) practice of forcing defendants to surrender profits obtained through fraud as part of its enforcement of investor-protection laws…

SEC opposes joining of Oando in Tinubu’s suit

Sandra Umeh Jun 24, 2019 0

Counsel to the Securities and Exchange Commission (SEC), Chief Anthony Idigbe (SAN), on Monday opposed an applicatio seeking to join Oando Plc in a suit filed its Group Chief Executive Officer, Mr Adewale Tinubu, and his deputy, Mr…

Fraud scandal: Oando share price suffers another loss

Samuel Oduoye Jun 11, 2019 0

The scandal rocking Oando Plc has again caused a 3.85% dip in its share price at the close of trading on the Nigerian Stock Exchange (NSE) on Monday. The decline came the Securities and Exchange Commission (SEC) suspended the firm’s…

Oando Saga: SEC says action aimed at protecting investors

Chinyere Joel-Nwokeoma Jun 9, 2019 0

The Securities and Exchange Commission (SEC) on Sunday said that Oando Plc was given sufficient opportunity of being heard before they were penalised. The commission said in Lagos that there were various opportunities by the company to…

SEC bars Wale Tinubu from being public company director 5 years

Chinyere Joel-Nwokoema Jun 1, 2019 0

After over a year of forensic audit, the Securities and Exchange Commission (SEC) has concluded investigation of Oando Plc and barred the Group Chief Executive Officer, Mr Wale Tinubu , from being a director of a public company for five…

SEC commences verification of Dantata company

Lucy Ogalue May 29, 2019 0

The Securities and Exchange Commission (SEC), has concluded plans to commence verification for Nigerians that invested monies in Dantata Success and Profitable Company, Kano. Mrs Efe Ebelo, SEC’s Head of Media, said this in a statement…

“Don’t cry when you lose your money in Loom” – SEC warns Nigerians against…

John Ogunsemore May 17, 2019 0

The Securities and Exchange Commission (SEC) has warned Nigerians against fraudsters currently running an online investment scheme tagged “Loom Money Nigeria’’. Acting Director-General of the commission, Ms Mary Uduk gave the warning at…

SEC approves listing of MTN Nigeria on NSE

Chinyere Joel-Nwokeoma May 8, 2019 0

The Securities and Exchange Commission (SEC) on Wednesday said it had approved MTN Nigeria’s application to list on the Nigerian Stock Exchange (NSE) by way of introduction. Mrs Efe Ebelo, SEC Head, Corporate Communications, confirmed…

SEC tasks Nigerians to use Green Bonds to tackle infrastructure gap

Chinyere Joel-Nwokeoma Dec 4, 2018 2

The Securities and Exchange Commission (SEC) on Tuesday said the nation’s huge infrastructure gap could be addressed with investments in sustainable finance initiatives such as Green Bonds. Ms Mary Uduk, SEC Acting Director-General,…

U.S. body charges Floyd Mayweather and “DJ Khaled’’ over token offerings

Victor Okoye Nov 30, 2018 0

The U.S. Securities and Exchange Commission (SEC) has charged boxer Floyd Mayweather Jr. and music producer “DJ Khaled” with failing to disclose payments. The charge is about payments they received for promoting investments in initial…

Unity Bank, Milost investment still under investigation – SEC

Chinyere Joel-Nwokeoma May 21, 2018 0

The Securities and Exchange Commission (SEC) on Monday said it was still investigating the one billion dollars investment in Unity Bank Plc by Milost Global Incor. Mrs Efe Ebelo, SEC’s acting Head, Corporate Communications, confirmed…

Oando drops lawsuit against Nigeria’s SEC, regulator says

Agency Report Mar 7, 2018 0

Nigerian oil company Oando has dropped its lawsuit against the domestic Securities and Exchange Commission (SEC), paving the way for a forensic audit of the firm, the regulator announced in a statement on Tuesday. Oando had filed a…

Fresh report recommends dismissal for suspended SEC boss over N104 million misappropriation

News Agency of Nigeria Jan 30, 2018 0

The Administrative Panel of Inquiry set up to look into the allegations of financial misconduct by the Director-General, Securities and Exchange Commission (SEC), Mr Mounir Gwarzo, has recommended the dismissal of the suspended officer from…

Finance Minister Accuses Suspended SEC Boss Of Attempted Blackmail

John Ogunsemore Dec 8, 2017 0

More revelations have continued to trail the suspension of Director General, Securities and Exchange Commission (SEC), Mounir Gwarzo. In an interaction with journalists in Abuja on Friday, Finance Minister, Mrs Kemi Adeosun disclosed…

INSIDER TRADING: SEC Resumes OANDO Probe

News Agency of Nigeria Dec 6, 2017 0

The Securities and Exchange Commission (SEC) has begun the forensic audit of Oando Plc, contrary to reports that the exercise stopped due to the suspension of the Director-General of the Commission, Mr Mounir Gwarzo. A letter obtained by…

FG appoints Dr Abdul Zubair acting D-G of SEC

News Agency of Nigeria Dec 3, 2017 0

The Federal Government on Sunday announced the appointment of Dr Abdul Zubair as acting Director-General, Securities and Exchange Commission (SEC). Mrs Efe Ebelo of the commission’s Corporate Communications Unit, said in a statement made…

Oando obtains court order restraining SEC technical suspension, forensic audit

News Agency of Nigeria Oct 25, 2017 0

Oando Plc has obtained an ex-parte order from the Federal High Court (FHC) with an interim order restraining the Nigerian Stock Exchange (NSE) from implementing a technical suspension on its shares. The company’s Head, Corporate Affairs,…

SEC, MTN dialogue on electronic listing

News Agency of Nigeria Aug 16, 2017 0

The Securities and Exchange Commission (SEC) has opened discussions with MTN to ensure successful electronic listing of the telecoms company on the Nigerian Stock Exchange (NSE). The Director-General of SEC, Mr Mounir Gwarzo, made the…

Ekiti State Recalls Six Dismissed Commissioners

News Agency of Nigeria Jul 9, 2017 0

Governor Ayodele Fayose of Ekiti has recalled 10 of the dismissed 16 commissioners in the state. The governor had dissolved the State Executive Council (SEC) last week but has now recalled six of them and told them to resume…

Guinness Nigeria receives SEC, NSE approvals to float N39.7bn issue

News Agency of Nigeria Jul 4, 2017 0

Guinness Nigeria Plc has received the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE)’s approvals to float a rights issue of N39.70 billion. The company said in a statement on Tuesday in Lagos that it had…

Okorocha weilds the big stick, sacks all commissioners, 27 LG transition committees

Jide May 31, 2017

The governor of Imo State, Rochas Okorocha has for the second time shaken up his administration as he wielded the big stick and sacked the state executive council as well as the 27 local government transition committees, with immediate…

SEC recovers investor’s N1.5m shares illegally sold by Cashville

News Agency of Nigeria Jan 29, 2017

The Securities and Exchange Commission (SEC) through its investor protection initiatives, has recovered the sum of N1.5 million for an investor, Rev. Fr. Samuel Ukeje, whose shares were illegally sold. A statement issued by the…

MMM Nigeria: Why We Have Made No Arrests So Far – Police

Owolabi Oluwasegun Jan 15, 2017

The Nigerian Police has reacted to the resumption of activities by the MMM Nigeria online financial scheme adding that it had not made any arrests despite warnings from the Central Bank of Nigeria, Federal Government and other financial…

MMM Nigeria: SEC Issues Fresh Warning To Nigerians

Owolabi Oluwasegun Jan 15, 2017

The Securities and Exchange Commission has issued a fresh warning to Nigerians against participation in the MMM Nigeria financial scheme which it describes as a ponzi scheme. The warning comes after the SEC issued an earlier warning to…

Beware Of Virtual Currency Investment Schemes – SEC Warns Nigerians

Owolabi Oluwasegun Jan 13, 2017

The Securities and Exchange Commission has on Thursday warned Nigerians against participating and investing their money in virtual and digital currencies. The SEC noted that its attention has been drawn to advertisements promoting and…

SEC, fund managers partner on e-transfer to boost savings, financial inclusion

News Agency of Nigeria Dec 4, 2016

The Fund Managers Association of Nigeria (FMAN) says it is partnering with the Securities and Exchange Commission (SEC) on electronic transfer of funds to boost financial inclusion and investment in the nation’s bourse. The president of…

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