sec

SEC GUIDELINES ENHANCED TRANSPARENCY IN BANK'S RECAPITALIZATION PROCESS The Securities and Exchange Commission (SEC) has highlighted that its guidelines played a pivotal role in ensuring the transparency of Nigeria’s recent banking recapitalisation exercise. Dr. Emomotimi Agama, the...

SEC URGES STATE-OWNED ENTERPRISES TO LIST ON NIGERIAN EXCHANGE Overview: The Securities and Exchange Commission (SEC) has called on government agencies and state-owned enterprises to consider listing on the Nigerian Exchange Limited (NGX) to enhance inclusivity and wealth creation. Key...

DIGITAL EXCHANGES TO BOOST YOUTH INVOLVEMENT IN CAPITAL MARKET Summary: - SEC's Approval: The Securities and Exchange Commission (SEC) has granted approval-in-principle to two cryptocurrency exchanges, Busha Digital Limited and Quidax Technologies Limited. This move aims to enhance youth...

COLLABORATION BETWEEN CBN, SEC, AND NDIC TO SIMPLIFY BANK RECAPITALISATION 1. Article Overview: - The Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), and the Nigeria Deposit Insurance Corporation (NDIC) are collaborating to streamline the bank recapitalization...

SEC APPROVES DREAMCITY CAPITAL 1. Approval-in-Principle by SEC: - The Security and Exchange Commission (SEC) has granted DreamCity Capital, a digital real estate investment platform in Nigeria, an "Approval in Principle." - This approval indicates that the proposal or application is...

SEC, CBN APPROVES ECOBANK CUSTODY BUSINESS 1. Background Information: - Ecobank Nigeria Limited has received approval from the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) to launch its custody business operations in Nigeria. - The custody services in...

SEC WOOS FIRMS TO CAPITAL MARKET Summary: The Securities and Exchange Commission (SEC) is urging more companies to list on the Nigerian Exchange to boost market liquidity and align with the Federal Government's goal of achieving a $1 trillion economy. Key Points: 1. Call for More Listings...

SECURITIES AND EXCHANGE COMMISSION (SEC) UNCOVERS EFFORTS TO TACKLE UNCLAIMED DIVIDENDS Key Issue: Unclaimed Dividends - Total Unclaimed Dividends: The unclaimed dividends currently stand at N215 billion. - Commitment: The Securities and Exchange Commission (SEC) is committed to resolving the...

DANGOTE GROUP’s STOCK PERFORMANCE AND THE MERGER DENIAL 1. Stock Price Decline: - Dangote Sugar Refinery: The stock price dropped by 18.67% from N45.00 to N36.60 between May and August 2024. This decline is attributed to supply chain disruptions and volatile sugar prices, which negatively...

SEC TO UNVEIL PLANS FOR CAPITAL MARKET AT UPCOMING MEETING SUMMARY: The Securities and Exchange Commission (SEC) is preparing to present its vision for the Nigerian capital market at the Second Capital Market Committee (CMC) Meeting scheduled for August 14 in Lagos. This initiative aligns with...

UNCOVER UNCLAIMED DIVIDEND OWNERS, SENATE TELLS SEC 1. Senate Committee and SEC Collaboration: - Public Hearing: The Senate Committee on Capital Market, alongside the Security and Exchange Commission (SEC) and other stakeholders, held a public hearing on July 30, 2024. - Objective: The...

MINISTER URGES SEC TO TACKLE CRYPTOCURRENCY CHALLENGES The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has urged the newly inaugurated board of the Securities and Exchange Commission (SEC) to address the complexities of regulating cryptocurrencies and maintain...

MINISTER URGES SEC TO TACKLE CRYPTOCURRENCY CHALLENGES The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has urged the newly inaugurated board of the Securities and Exchange Commission (SEC) to address the complexities of regulating cryptocurrencies and maintain...

SEC APPROVES CHIEMEKA'S APPOINTMENT AS NGX CEO KEY DETAILS: - Appointment Approved: The Securities and Exchange Commission has approved Jude Chiemeka's appointment as the Chief Executive Officer of the Nigerian Exchange Limited (NGX), effective July 1, 2024. - Experience: Chiemeka brings...

SEC URGES CAPITAL MARKET OPERATORS TO EMBRACE GREEN BONDS The Director General of the Securities and Exchange Commission (SEC), Emomotimi Agama, has called on capital market operators in Nigeria to adopt green bonds and exchange-traded funds (ETFs) to promote growth and sustainability in the...

The Securities and Exchange Commission (SEC) has launched a revamped e-Dividend Mandate Management System (e-DMMS) portal aimed at reducing unclaimed dividends, which currently amount to N190 billion. The new system introduces a "self-service interface," enabling investors to mandate their...

Dangote Sugar Refinery Plc has registered a N200bn multi-instrument issuance programme with the Securities and Exchange Commission (SEC), as disclosed in a statement filed with the Nigeria Exchange Limited by Company Secretary Temitope Hassan. Key Details: - The programme underscores Dangote...

Key Points: - SEC's Directive: - The Securities and Exchange Commission (SEC) has mandated all Nigerian fund managers to disclose detailed information about their investments in the recently liquidated Heritage Bank. - Circular Issued: - Tarfa Makyur, Head of the Monitoring Department at...

Overview: The Securities and Exchange Commission (SEC) has mandated all capital market operators (CMOs) to implement an enterprise risk management (ERM) framework that aligns with internationally recognized standards. This directive aims to bolster risk management practices within the capital...

SEC APPROVES FCMB ASSET MANAGEMENT'S PRIVATE DEBT FUND: 1. Fund Approval: - The Securities and Exchange Commission (SEC) has approved the private debt fund sponsored and managed by FCMB Asset Management Limited, with support from TLG Capital Investments Limited (TLG Capital) UK. 2. Fund...