Reps committee steer SEC, FRC towards N45bn remittance resolution, issues 21-day timeline
Post AMUGE
April 17, 2024
Business a.m. The House of Representative Public Accounts Committee, in a spirit of diplomacy and fairness, has provided a platform for the Securities and Exchange Commission (SEC) and the Fiscal Responsibility Commission (FRC) to address their differences over the controversial non-remittance of N45 billion to the Consolidated Revenue Fund. The FRC had asserted that the […]
AMCON enlists more agencies in hunt for N5 trillion debt
Businessam StaffOctober 14, 2019
The recovery chase for the N5trillion debt in the portfolio of the Asset Management Corporation of Nigeria (AMCON) got new vista, as more government agencies enlist to hunt down the bad debtors. This is coming as the legally binding operational lifespan of the “bad bank” due 2023, is fast approaching, while the obligors are yet […]
Insurance sector life annuity fund portfolio hits N323bn – NAICOM
Businessam StaffOctober 7, 2019
The Insurance sector life annuity fund portfolio stood at about N323 billion at the end of the second quarter of 2019. The information was made available by Rasaq Salami, head/ commissioner for insurance directorate of the National Insurance Commission (NAICOM) in a statement on Saturday in Abuja. Salami said the figure represented a growth of […]
SEC begins verification of 4,160 Dantata investors
Adesola AfolabiJuly 16, 2019
The Securities and Exchange Commission has started verifying claims of 4,160 unpaid investors of the illegal investment scheme organised by Dantata Success and Profitable Company. The verification exercise commenced on Monday July 15th and is expected to last till Saturday July 20th, 2019, with 4,160 investors undergoing verification. SEC said investors were required to go […]
5 Nigerian securities exchanges move to deepen market through coopetition
Adesola AfolabiAugust 8, 2018
In a syndicated move to further develop the Nigerian capital markets and the economy as a whole, five exchanges listed under Nigeria’s Securities and Exchange Commission (SEC) Wednesday launched the Association of Securities Exchanges in Nigeria (ASEN). The Association, established to accelerate the development of domestic securities exchanges and support the Nigerian capital market to […]
Nigeria’s SEC to partner grassroots on financial literacy
Adesola AfolabiJune 11, 2018
The Securities and Exchange Commission (SEC) has expressed readiness to collaborate with various groups in grassroots in its financial literacy campaign. This, the Commission said, is in a bid to ensure that Nigerians in the rural areas are effectively sensitised on the benefits of investing in the capital market. Mary Uduk, acting director general of […]
SEC Nigeria reiterates commitment to master plan implementation
Adesola AfolabiMay 16, 2018
Mary Uduk, Ag. the director general of Securities and Exchange Commission (SEC) has reiterated the determination of the current management of the Commission to improve investors’ confidence through various initiatives currently being implemented as part of the Ten Year Capital Market Master Plan. Uduk stated this in Abuja when she was honoured by the West African […]
IOSCO to focus on key challenges facing securities regulators
Adesola AfolabiMay 15, 2018
The International Organisation of Securities Commissions (IOSCO) has resolved to focus on key issues affecting regulators worldwide and proffer ways of tackling the challenges This was part of the resolutions reached at the organisation´s 43rd Annual Conference in Budapest, Hungary. The conference also featured meetings by the IOSCO Board, IOSCO´s Growth and Emerging Markets (GEM) […]
Nigeria’s SEC holds first CMC meeting in 2018
Businessam StaffApril 18, 2018
The Securities and Exchange Commission (SEC) is set to host the first Capital Market Committee (CMC) meeting for 2018. According to a statement from SEC, the meeting scheduled for Thursday 19 – Friday 20, April 2018, at the Federal Palace Hotel, Victoria Island, Lagos, has topmost on the agenda, the capital market master plan implementation […]
SEC disburses N17.09m as compensation to 297 investors of closed Mega Asset Managers
Businessam StaffMarch 21, 2018
The Securities and Exchange Commission (SEC) on Wednesday said the sum of N17.09 million has been disbursed to 297 investors as compensation from its National Investor Protection Fund (NIPF). A breakdown of the compensation data obtained from the commission showed that the 297 investors were customers of the closed Mega Asset Managers Ltd, Nigeria’s news […]