Why non-interest financing, equity are solution to huge debt crisis – FG

December 7, 2023 Admin III 0

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has said non-interest and equity financing were the solutions to the current global debt crisis. Edun said this Wednesday in Abuja at the maiden Securities and Exchange Commission (SEC) and the Islamic Financial Service Board (IFSB) international forum on non-interest capital markets. The minister said there was Read More

SEC exposes amendments to rules on shelf registration

June 26, 2023 Admin III 0

The Securities and Exchange Commission has exposed some proposed amendments to rules on Shelf Registration and Pre-offer Waiting Period. The SEC stated that the Sundry Amendments are being made to Rule 279(3) on Shelf Registration and Rule 300 on Pre-Offer Waiting Period (Fixed Price Offers. Details of the proposed Amendment to Rule 279(3) – Shelf Registration Proposed Amendment shows the Read More

SEC blacklists 6 online trading platforms

May 2, 2023 Benjamin Umuteme 0

The Securities and Exchange Commission (SEC) has blacklisted six online trading platforms in its latest crackdown on illegal and unregistered firms purporting to offer investment and finance services and products. In a circular, the Commission stated “The Commission’s attention has been drawn to the under listed e-commerce Companies and their websites offering online trading platforms to the investing public. They Read More

SEC urges investors to expose illegal fund managers

April 27, 2023 Benjamin Umuteme 0

In a bid to ensure that only registered entities are allowed to operate in the capital market, the Securities and Exchange Commission has urged members of the public to report any fund manager that is operating without the registration of the Commission. Chief Economist, SEC Dr. Okey Umeano stated this in an interview in Abuja, said the battle against illegal Read More

SEC: Protection of investors our core mandate – Yuguda

April 17, 2023 Admin III 0

The Capital Market Committee of the Securities and Exchange Committee (SEC), held its first meeting last week. In this interview with BENJAMIN UMUTEME, the Director-General of SEC, Lamido Yuguda, restated that protection of investors is at the heart of the Commission’s mandate. In the course of your presentation, you mentioned that you will spare no efforts protecting investors, both minority Read More

SEC DG stresses importance of investors’ education

February 16, 2023 Benjamin Umuteme 0

The Director-General of the Securities and Exchange Commission (SEC) Mr. Lamido Yuguda has enjoined the management of the Lagos Free Zone to step up their investor enlightenment campaign as the company prepares to access the capital market. Yuguda who stated this during a meeting between the SEC, the Nigeria Export Processing Zones Authority and the Lagos Free Zone in Abuja Read More

Nigerian Exchange receives SEC’s approval to list technology startups

December 21, 2022 Segun Odunewu Lagos 0

The Securities and Exchange Commission (SEC) has approved the regulations for listing on the Nigerian Exchange’s Technology Board. The rules for listing on the board contain crucial details about admissions, listing criteria, disclosure requirements, and notification obligations for Issuers, sponsors, investors, and their advisors. Temi Popoola, CEO of NGX, remarked on the approval, “This is a significant achievement that will Read More

SEC will rebuild e-dividend platform – Official

December 16, 2022 Benjamin Umuteme Abuja 0

The Securities and Exchange Commission has stated that efforts are ongoing to rebuild the E-Dividend Management Mandate System (e-DMMS) platform in a sustained effort to drive down unclaimed dividends in the capital market.This was stated by the Director General of the SEC, Mr. Lamido Yuguda, during an interview in Abuja.Yuguda said members of the Capital Market Committee had adopted some measures Read More

Effective controls key to investor protection – SEC

December 6, 2022 Benjamin Umuteme Abuja 0

Effective internal controls over financial reporting has been described as necessary to help ensure that companies provide investors with accurate financial statements, which will in turn boost investor protection and confidence. This was stated by the Executive Commissioner Legal and Enforcement of the Securities and Exchange Commission, Mr. Reginald Karawusa during a training on Internal Controls over Financial Reporting, an Read More

SEC restates commitment to commodities ecosystem devt

September 19, 2022 Admin III 0

The Securities and Exchange Commission (SEC) has reiterated its commitment to developing the commodities ecosystem in Nigeria to boost its non-oil sector. The Director-General of SEC, Lamido Yuguda, stated this at the conference over the weekend, with the theme ‘Boosting Domestic Capacity for Sustainable Export Earnings’. Yuguda who was represented by the Director, Lagos Zonal Office of the Commission, Hafsat Read More

…To sanction stakeholders over unclaimed dividends

August 19, 2022 Admin III 0

The Securities and Exchange Commission (SEC) has said it would sanction stakeholders whose actions were frustrating its efforts toward reducing the volume of unclaimed dividends. Its director-general, Mr. Lamido Yuguda, said this at a post Capital Market Committee (CMC) news conference Friday in Abuja. Yuguda lamented that despite the Commission’s efforts in ensuring Electronic Dividend Mandate Management System (e-DMMS), investors Read More

Ponzi schemes cancer to capital market — SEC

August 19, 2022 Benjamin Umuteme Abuja 0

The Securities and Exchange Commission (SEC) has described Ponzi scheme as “cancer” bedeviling effective operations of the capital market. Its director-general, Mr. Lamido Yuguda, said this at a post Capital Market Committee (CMC) meeting press conference in Abuja Friday. Yuguda said the Commission had been fighting a serious war against Ponzi schemes where people without licenses extort money from unsuspected Read More

Dukia Gold only approved legal entity for gold refining – SEC

July 24, 2022 Amaka Ifeakandu 0

The Director General of the Securities and Exchange Commission, (SEC), Mr. Lamido Yuguda has announced that Dukia Gold is only SEC approved and designated legal entity for gold refining, bullion merchant and vaulting service provider in Nigeria for gold physical delivery on the capital market through the Lagos Commodities and Future Exchange (LCFE). Yuguda made this statement at the BusinessDay Read More

Yuguda: Driving reforms space at SEC

July 24, 2022 Admin III 0

As a crucial component of the economy, the capital market has a great role to play in its development. And this is what the Director General of the Securities and Exchange Commission (SEC) is presently doing to make the capital market the driver of Nigeria’s economy; BENJAMIN UMUTEME writes. On July 6th 2020, when Lamido Yuguda assumed office as the Read More

AfDB, SEC collaborate on market surveillance system project

July 19, 2022 Benjamin Umuteme 0

In a bid to modernise Nigeria’s capital markets and ensure that it is well positioned to support economic transformation driven by private sector investment, the Securities and Exchange Commission and the African Development Bank Group have signed an agreement for a grant on market surveillance system project. The grant valued at $460,000, is to finance technical assistance and capacity building Read More

Lamido Yuguda: Driving reforms at SEC

July 13, 2022 Admin III 0

As a crucial component of the economy, the capital market has a great role to play in its development. And this is what the Director General of the Securities and Exchange Commission (SEC) is presently doing to make the capital market the driver of Nigeria’s economy; BENJAMIN UMUTEME writes. On July 6th 2020, when Lamido Yuguda assumed office as the Read More

SEC seeks partnership with CIS to bridge infrastructure gap

June 26, 2022 Benjamin Umuteme 0

Relevant stakeholders have been urged to cooperate with the Securities and Exchange Commission in its desire to help bridge Nigeria’s infrastructure gap in the country. Director General of the SEC, Mr. Lamido Yuguda stated this during a meeting with the new executives of the Chartered Institute of Stockbrokers in Abuja, weekend. Yuguda said the capital market is capable of attracting Read More

SEC to deepen financial inclusion efforts across all segments of Society

June 20, 2022 Amaka Ifeakandu, Lagos 0

The Securities and Exchange Commission (SEC), has reiterated its commitment to ensure that every segment of the society is covered in the ongoing financial inclusion initiative of the Federal Government. The SEC assured that more Nigerians are captured in the digitalisation of the economy through the financial inclusion policy. The Capital Market regulators gave this assurance in Lagos at the Read More

Banks, SEC disagree on legality of cryptocurrencies transactions in Nigeria

June 9, 2022 Segun Odunewu, Lagos 0

Banks have warned customers to avoid using their accounts for cryptocurrency transactions despite the Security and Exchange Commission’s (SEC) latest regulation on cryptocurrency which essentially formalized cryptocurrency as an asset class in Nigeria. In an email to one of the bank’s customers, it warned against using their bank accounts for cryptocurrency transactions as the accounts will be closed if they Read More

SEC moves to automate dividend collection through e-dividend portal

April 26, 2022 Admin III 0

The Director-General of the Securities and Exchange Commission (SEC), Lamido Yuguda, says by third quarter 2022, the e-dividend portal will be up and running thus fast tracking collection of dividends by shareholders. In this interview with journalists, he also spoke on a wide range of issues. BENJAMIN UMUTEME reports. The Capital Market Committee meeting was recently held. What are some Read More

We’ll tackle cybersecurity risks on capital market – SEC

April 7, 2022 Benjamin Umuteme 0

The Securities and Exchange Commission has said it is currently working along with other agencies on a sectoral strategy to tackle any potential cyber security threat on the Nigerian capital market. The Director-General of SEC, Mr Lamido Yuguda disclosed this on Thursday while briefing journalists on the outcome of the first Capital Market Committee meeting of 2022. For over two Read More

SEC management assures of industrial harmony

March 25, 2022 Benjamin Umuteme 0

The Management of the Securities and Exchange Commission (SEC) has assured staff of the Commission of its commitment to ensure industrial peace and harmony in the SEC. Executive Commissioner Corporate Services of the SEC, Mr. Ibrahim Boyi, stated this while addressing protesting members of staff of the SEC at the Commission’s headquarters. Staff had expressed dismay over issues ranging from Read More

SEC seals up Oxford International Group, 2 others over illegal activities

March 15, 2022 Benjamin Umuteme Abuja 0

The Securities and Exchange Commission (SEC), has sealed the premises of Oxford International Group/Oxford Commercial Services, Farmforte Agro Allied Solutions Limited/Agro Partnerships as well as Vektr Capital Investment/Vektr Enterprise for illegally engaging in capital market activities. The SEC said the offices of the companies in Lagos, Port Harcourt and Abuja were shut down for carrying out investment operations that fall Read More