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Lagos, South Africa and New York
Friday, May 29, 2020

SEC Embarks on New Initiatives to Ease Doing Business in the Market

The Securities and Exchange Commission, SEC has embarked on a number of initiatives to address time to market and promote ease of doing business. This was stated by the Acting Executive Commissioner Operations, Mr. Isyaku Tilde during a meeting with issuers in Lagos, Thursday. He stated...

Foreign investment into Nigerian Equities Slump as outflow surges on Covid-19 fears

Foreign inflows into Nigerian equities reached a record low of N18.97billion in February against an outflow of N52.37billion. This is against inflow of N23.81billion and outflow of N46.5billion in January. Foreigners who hitherto were major buyers of Nigerian equities accounted for just N141.65billion or 36.92percent...

Senate Committee Commends NSE on Contributions to National Development

The Senate Committee on Capital Markets has commended The Nigerian Stock Exchange (NSE) on its efforts to create a truly sustainable exchange hub for wealth creation and capital formation in Africa. This was expressed by the Chairman of the Committee, Senator Ibikunle Amosun, CON, during...

FMDQ admits 78 debt securities worth N1.03trn in 2018

FMDQ Securities Exchange Plc admitted 78 debt securities worth N1.03 trillion for the financial year ended Dec. 31, 2018. Dr Joseph Nnanna, the exchange Chairman, disclosed this at the company’s 7th Annual General Meeting (AGM) in Lagos. Nnanna said the 78 debt securities were in contrast...

NSE slaps Access Bank, two others N8.12m fine for disclosure violations

The Nigerian Stock Exchange has fined Access Bank Plc, Diamond Bank Plc and First Aluminium Plc a total of N8.12m for disclosure violations. The NSE, in its latest X-Compliance report, said the Access Bank and Diamond Bank were fined for failing to disclose the resolutions...

SEC expects N1.5tr growth in mutual funds in 2020

The Securities and Exchange Commission has expressed optimism that Collective Investment Scheme (CIS) or Mutual funds in the capital market will hit N1.5 trillion before the end of the year. From left; Head Economic Research Securities and Exchange Commission,Dr. Afolabi Olowookere; Head, External Relations (SEC);Mr....

FBNQuest helps investors look Beyond Today

FBNQuest Asset Management, a subsidiary of FBN Holdings, has stepped forward to offer investors expert guidance on investing opportunities. The firm seeks to serve as a partner that helps investors achieve their goals in a time of heightened uncertainty in the financial markets. The COVID-19...

SEC amends framework for transmission of shares to curb rising unclaimed dividends

In a bid to reduce rising unclaimed dividend amounting to over N70 billion, the Securities and Exchange Commission, SEC has amended the draft on the operating framework for the transmission of shares from a deceased to the beneficiary. Securities and Exchange Commission SEC In...

11 Plc to Voluntarily Delist from the NSE

The Board of Directors of 11 Plc at its Board meeting held on 27 February, 2020 considered and approved the following proposals: a) A proposal for 11 PLC to voluntarily delist from the Nigerian Stock Exchange. The proposal is to be considered for shareholders’ approval...

Financial statement: NSE imposes N5.2m fine on 4 companies

THE Nigerian Stock Ex- change (NSE) has need Deap Capital Management & Trust Plc, Thomas Wyatt Plc, and two other companies N5.2 million for default fling in the year so far. The NSE said the companies fled their audited and interim financial statements after the regulatory...