The Securities and Exchange Commission (SEC) Nigeria has hinted of the development of new guidelines aimed at enhancing the licensing, registration, and screening processes for digital and virtual asset service providers (VASPs). The commission, in a Notice to the effect stated that the measures were crucial in preventing individuals with criminal backgrounds from participating as […]
Tag: Securities and Exchange Commission (SEC) Nigeria
Rights Issue: NGX Lists Ellah Lakes Plc’s 753,786,788 Shares
The Nigerian Exchange Limited (NGX) has listed Ellah Lakes Plc’s 753,786,788 ordinary shares of 50 kobo each for Rights Issue on its Daily Official List. The Exchange, in its Weekly Report, indicated that the additional shares listed on NGX arose from Ellah Lakes’ Rights Issue of 1 billion ordinary shares of 50 Kobo each at […]
SEC Shuts ‘Ready Finance InSE’ Over Illegal Operations
The Securities and Exchange Commission (SEC) has sealed the office of Ready Finance Investors Limited, which is located at Flat 5, AYA Memorial Plaza, Nkwere Street, Area 11, Garki, Abuja for engaging in illegal investment and other capital market activities. A statement issued by the capital market regulatory commission on Thursday indicated that firm was […]
Nigeria Commits Over N1Trn Sukuk Fund To Infrastructure Projects – Yuguda
The Director-General of the Securities and Exchange Commission (SEC) Nigeria, Mr. Lamido Yuguda, has listed some of the gains recorded since Nigeria committed to collaborating with the Islamic Financial Services Board (IFSB) as including improved funding of the nation’s infrastructure through Sukuk funds. Yuguda, in his keynote address at the First Annual SEC Nigeria-IFSB International […]
SEC To Host Global Forum On Non-Interest Capital Markets
The Securities and Exchange Commission (SEC) Nigeria and the Islamic Financial Services Board (IFSB), an international standard-setting body with a vested interest in ensuring the soundness and stability of the global Islamic financial services industry, are set to convene an SEC Nigeria-IFSB International Forum on Non-Interest (Islamic) Capital Market. The SEC, in a statement issued […]
SEC Reiterates Commitment To Investor Education, Regulatory Mandate
The Securities and Exchange Commission (SEC) has reiterated its commitment to enhancing the nation’s capital market by promoting investor education, enforcing protective regulations against fraud, and encouraging responsible investment practices. The Commission gave this assurance to the investing public on Wednesday as part of the activities lined up by it during the ongoing 7th edition […]
SEC Sets N5Trn Market Cap Target From Shari’ah-Compliant Products
The Securities and Exchange Commission (SEC) Nigeria has reiterated its commitment to achieve 50 listing of Shari’ah-compliant products in the capital market with a combined market capitalisation of at least N5 trillion by 2025. The commission’s Director-General, Mr. Lamido Yuguda, who restated the commitment at a “Capacity Building Workshop for local Shariah Talent for Non-interest […]
Nigeria’s Infrastructure Gap May Take Centuries To Bridge – Yuguda
The Director-General of the Securities and Exchange Commission (SEC) Nigeria, Mr. Lamido Yuguda, has projected that given the current level of capital expenditure, it may take up to three centuries to bridge the nation’s consistently widening infrastructure gap. Yuguda, who made this forecast at the 2023 Chartered Institute of Stockbrokers (CIS) National Workshop which was […]
NGX Proposes Dollar-Denominated Bond Listing On Exchange
Apparently concerned about the current scarcity of foreign exchange (FX) in the economy, the Nigerian Exchange Limited (NGX) is currently working on a proposal to allow dollar-denominated bond listings by investors on its platform. A news report from Bloomberg indicates that the new initiative is considered by the NGX authorities, which are also dollar-denominated stock […]
PenCom To Publish Securities Lending Guidelines For PFAs
…Initiative ‘ll boost equities market liquidity – SEC The National Pension Commission (PenCom) has hinted of its plan to release new draft guidelines to Pension Fund Administrators (PFAs) for securities lending as part of its efforts to boost investment in the nation’s pension sector. The commission’s Head of Investment Supervision, Mr. Ibrahim Kangiwa, who made […]