The Securities and Exchange Commission (SEC) has reiterated its commitment to developing the commodities ecosystem in Nigeria to boost its non-oil sector. The Director-General of SEC, Lamido Yuguda, stated this at the conference over the weekend, with the theme ‘Boosting Domestic Capacity for Sustainable Export Earnings’. Yuguda who was represented by the Director, Lagos Zonal Office of the Commission, Hafsat Read More
The Securities and Exchange Commission (SEC) has said it would sanction stakeholders whose actions were frustrating its efforts toward reducing the volume of unclaimed dividends. Its director-general, Mr. Lamido Yuguda, said this at a post Capital Market Committee (CMC) news conference Friday in Abuja. Yuguda lamented that despite the Commission’s efforts in ensuring Electronic Dividend Mandate Management System (e-DMMS), investors Read More
The Securities and Exchange Commission (SEC) has described Ponzi scheme as “cancer” bedeviling effective operations of the capital market. Its director-general, Mr. Lamido Yuguda, said this at a post Capital Market Committee (CMC) meeting press conference in Abuja Friday. Yuguda said the Commission had been fighting a serious war against Ponzi schemes where people without licenses extort money from unsuspected Read More
The Director General of the Securities and Exchange Commission, (SEC), Mr. Lamido Yuguda has announced that Dukia Gold is only SEC approved and designated legal entity for gold refining, bullion merchant and vaulting service provider in Nigeria for gold physical delivery on the capital market through the Lagos Commodities and Future Exchange (LCFE). Yuguda made this statement at the BusinessDay Read More
As a crucial component of the economy, the capital market has a great role to play in its development. And this is what the Director General of the Securities and Exchange Commission (SEC) is presently doing to make the capital market the driver of Nigeria’s economy; BENJAMIN UMUTEME writes. On July 6th 2020, when Lamido Yuguda assumed office as the Read More
In a bid to modernise Nigeria’s capital markets and ensure that it is well positioned to support economic transformation driven by private sector investment, the Securities and Exchange Commission and the African Development Bank Group have signed an agreement for a grant on market surveillance system project. The grant valued at $460,000, is to finance technical assistance and capacity building Read More
As a crucial component of the economy, the capital market has a great role to play in its development. And this is what the Director General of the Securities and Exchange Commission (SEC) is presently doing to make the capital market the driver of Nigeria’s economy; BENJAMIN UMUTEME writes. On July 6th 2020, when Lamido Yuguda assumed office as the Read More
Relevant stakeholders have been urged to cooperate with the Securities and Exchange Commission in its desire to help bridge Nigeria’s infrastructure gap in the country. Director General of the SEC, Mr. Lamido Yuguda stated this during a meeting with the new executives of the Chartered Institute of Stockbrokers in Abuja, weekend. Yuguda said the capital market is capable of attracting Read More
The Securities and Exchange Commission (SEC), has reiterated its commitment to ensure that every segment of the society is covered in the ongoing financial inclusion initiative of the Federal Government. The SEC assured that more Nigerians are captured in the digitalisation of the economy through the financial inclusion policy. The Capital Market regulators gave this assurance in Lagos at the Read More
Banks have warned customers to avoid using their accounts for cryptocurrency transactions despite the Security and Exchange Commission’s (SEC) latest regulation on cryptocurrency which essentially formalized cryptocurrency as an asset class in Nigeria. In an email to one of the bank’s customers, it warned against using their bank accounts for cryptocurrency transactions as the accounts will be closed if they Read More
The Securities and Exchange Commission (SEC) has embarked on an identity management project with capital market participants to be given unique identifiers to curb issues of fraud in the market. SEC also said that the unique identifiers will reduce the high number of unclaimed dividends as well as noting that the identity management project in the capital market would ensure Read More
The Director-General of the Securities and Exchange Commission (SEC), Lamido Yuguda, says by third quarter 2022, the e-dividend portal will be up and running thus fast tracking collection of dividends by shareholders. In this interview with journalists, he also spoke on a wide range of issues. BENJAMIN UMUTEME reports. The Capital Market Committee meeting was recently held. What are some Read More
The Securities and Exchange Commission has said it is currently working along with other agencies on a sectoral strategy to tackle any potential cyber security threat on the Nigerian capital market. The Director-General of SEC, Mr Lamido Yuguda disclosed this on Thursday while briefing journalists on the outcome of the first Capital Market Committee meeting of 2022. For over two Read More
The Management of the Securities and Exchange Commission (SEC) has assured staff of the Commission of its commitment to ensure industrial peace and harmony in the SEC. Executive Commissioner Corporate Services of the SEC, Mr. Ibrahim Boyi, stated this while addressing protesting members of staff of the SEC at the Commission’s headquarters. Staff had expressed dismay over issues ranging from Read More
The Securities and Exchange Commission (SEC), has sealed the premises of Oxford International Group/Oxford Commercial Services, Farmforte Agro Allied Solutions Limited/Agro Partnerships as well as Vektr Capital Investment/Vektr Enterprise for illegally engaging in capital market activities. The SEC said the offices of the companies in Lagos, Port Harcourt and Abuja were shut down for carrying out investment operations that fall Read More
The Securities and Exchange Commission has stated that Issuers would henceforth be required to obtain the reference letter of “No-Objection” from their respective primary regulators and file same along with other application documents presented to the Commission. This was contained in a Circular issued by the Commission, Thursday in Abuja. The SEC states that this has become necessary in a Read More
The Securities and Exchange Commission has disclosed that it is engaging the National Orientation Agency as well as regulators of public agencies to curb the activities of illegal operators. Director General of the SEC, Mr. Lamido Yuguda stated this in a goodwill message at the opening ceremony of a National Fact-Checking Course organized by the National Orientation Agency in Abuja, Read More
The Securities and Exchange Commission has again restated the need for capital market operators to maintain professionalism and good ethical conduct in the discharge of their duties. The Director-General of the SEC, Mr. Lamido Yuguda who stated this during a meeting with the Chartered Institute of Stockbrokers in Abuja, Wednesday, added that it would make the market more transparent and Read More
The Securities and Exchange Commission (SEC) has reaffirmed that it is committed to making the capital market attractive to Nigerians of all ages and status. Director-General of SEC, Mr. Lamido Yuguda stated this during a meeting with a team lead by the British Deputy High Commissioner in Abuja. Yuguda said the Commission is implementing various initiatives to ensure that products Read More
The Rivers State Executive Council (SEC) has given approval for the state government to embark on construction of N8.2 billion 10th flyover in the state capital and another approval to access the Central Bank of Nigeria (CBN) COVID-19 Support Fund as its share of the Healthcare Support Credit Facility Fund established by the apex bank. The approval was given at Read More
The Securities and Exchange Commission has commended the Nigerian Exchange Limited, the Central Securities Clearing System and other capital market stakeholders for professionally working to develop the Market while pulling through the challenges brought by Covid-19 Pandemic and its variants. Director General of the SEC, Mr. Lamido Yuguda who spoke at a meeting with Capital Market Stakeholders Wednesday in Abuja Read More
The securities and Exchange Commission is to commence regulatory fee on fixed income (Bonds) secondary market transactions with effect from January 1, 2022. This was contained in a Circular dated December 15, 2021 and signed by the Management of the SEC. According to the Commission, “This circular is made pursuant to Section 13(u) of the Investments and Securities Act (ISA), Read More
The Securities and Exchange Commission has stated the need to reduce the substandard commodities in the market and encourage global acceptance of commodities produced in Nigeria. Executive Commissioner Operations SEC, Mr. Dayo Obisan stated this during a Commodities Standards Sensitisation Workshop held in Lagos Monday. Obisan said that it is globally recognized that the unique feature of the commodities exchange Read More
The Securities and Exchange Commission and the Standards Organisation of Nigeria are set to take their collaboration on Commodities Trading Ecosystem a step further with the hosting of a Commodities Standards Sensitisation Workshop. The workshop which holds Monday and Tuesday in Lagos will see Processors, Farmer Groups, Exporters, Farmer Co-operatives, Merchants/off takers as well as Agric Extension Officers in attendance. Read More
The Human Rights Writers Association (HURIWA) has berated the Minster of Women Affairs, Dame Pauline Tallen and her counterpart in the ministry of education, Mallam Adamu Adamu, over their alleged inaction with regards to the rape of a – 14 year old boarding student of Premiere Academy, Lugbe, Keren-Happuch Akpagher, which eventually led to her death. Mother of Keren-Happuch, Vivien Read More
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