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 […]
…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 […]
MTN Nigeria, Nigeria’s leading mobile network operators (MNOs), has secured the approval of the Securities and Exchange Commission (SEC) Nigeria for the registration of ordinary shares to allow the company to issue dividends as shares to 5,192 shareholders. The company made this disclosed in a statement signed by its Company Secretary, Uto Ukpanah which was […]
The Securities and Exchange Commission (SEC), the Federal Ministry of Mines and Steel Development and other stakeholders in the Capital Market Community are to partner to promote the use of alternative means of raising capital for the development of the nation’s non-oil sector. The planned capital raising initiative, which could be achieved from Non-Interest products, […]
A Federal High Court sitting in Abuja has adjourned the trial of an agribusiness entrepreneur, Ovaioza Yunusa, who was alleged to be involved in a scam of N2 billion to next Wednesday, July 12. The adjournment of the trial by the presiding Judge, Justice Gladys Olotu, was sequel to non-representation of the defence parties in […]
Justice Ambrose Lewis Allagoa of the Federal High Court, Court 3, Ikoyi Lagos, has fixed 21st July this year for the commencement of trial of Mr. Michael Ukiye Diongoli, and his two companies, UK Dion Group and UK Dion Investment Limited on a 61 count charge of defrauding unsuspecting investors to the tune of over N3.7 billion. […]
The Director General of the Securities and Exchange Commission (SEC) Nigeria, Mr. Lamido Yuguda, has reiterated the commission’s commitment to deepening and diversifying the capital market to create wealth for investors and stimulate the nation’s economic growth. Yuguda, who made the remark at the weekend, explained that development of capital markets would serve as engine […]
FMDQ Securities Exchange Limited has approved the listing of the FCMB Group PLC N20.69 billion Series 1 Fixed Rate Resettable NC5.25 Additional Tier 1 Subordinated Bond under its N300 billion Debt Issuance Programme on its platform. FCMB, the Issuer, is a bank-led financial services group, with operating companies divided along three businesses – Commercial, Retail […]
The Federal Government has dragged Elixir Asset Management Limited, Elixir Investment Partners Limited along with two of their Directors before the Federal High Court sitting in Ikoyi, Lagos on allegations of fraud to the tune of over N3 billion. In a four count charge brought against the companies and their promoters by the Federal Republic […]
The Securities and Exchange Commission (SEC) Nigeria on Tuesday disclosed that Justice A.R. Mohammed of the Federal High Court in Abuja had scheduled July 13, 2023, for the cross-examination of the final defence witness in the fraud case against Midland Capital Market Limited and its Managing Director, Mr. Sam Kwandi. The commission, in a statement […]