SEC debunks Visionscape bond report

The management of the Securities and Exchange Commission (SEC) has said that the bond issuance by Visionscape Sanitations Solutions Limited is a private placement and not under the regulatory purview of the commission.

The Commission’s management in a statement added that the Bond was not certified as a Green Bond.

“The attention of the commission has been drawn to news media publications regarding the default in repayment on Visionscape Bond and the commission’s role in the transaction.

“The Bond under reference was issued by Municipality Waste Management Contractors Limited, a private company promoted by Visionscape Sanitations Solutions Limited – under a N50 billion Medium Term Note Programme.

“Being an issuance by a private company, it was not offered to the public, but to qualified investors by private placement. 

“The transaction was therefore not subject to the prior review and approval of the Commission and does not fall within its regulatory preview,” the SEC said in the statement.

The Commission assured Nigerians that it is focused on protecting investors and ensure an efficient, fair and transparent capital market.

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