The Securities and Exchange Commission (SEC), has warned celebrities, influencers and bloggers against promoting unregistered investment schemes, saying violators faced possible imprisonment. In a statement yesterday, the commission explained that it was working closely with law enforcement agencies, including the Economic and Financial Crimes Commission (EFCC), the Nigeria Police Force (NPF), and other relevant government bodies, to investigate and prosecute …

The Economic and Financial Crimes Commission (EFCC) and the Securities and Exchange Commission (SEC) have vowed to hunt down operators of Ponzi schemes nationwide. The Federal Government agencies declared this on Wednesday following the collapse of the digital assets platform, CBEX. The SEC revealed that it had yet to receive formal complaints about the collapsed digital assets platform, while the …

Access Holdings said it paid N1.243 billion in penalties to regulatory authorities in 2024 for various infractions. The regulators include the Central Bank of Nigeria (CBN) and Securities and Exchange Commission (SEC), Access Bank said in its audited full-year 2024 financial statement. According to the document, published on the Nigerian Exchange Group (NGX) on Tuesday, the penalties were related to …

The House of Representatives Committee on Public Accounts has said it needs to investigate the processes of approving severance package for political appointees in the Ministries, Department and Agencies (MDAs) of government. The chairman of the committee, Bamidele Salam (PDP, Osun), named a five-man sub-committee to handle the investigation and make recommendations for adoption. He said the Public Accounts Committee …

The Securities and Exchange Commission (SEC) has reminded Capital Market Operators (CMOs) to ensure that they renew their registration on or before 31 January 2025. The Commission said this in a circular issued recently to ask the operators to begin this annual renewal of registration from 1 to 31 January 2025. The annual renewal of registration of Capital Market Operators, …

The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has emphasised the untapped potential of the capital market in addressing Nigeria’s significant infrastructure deficit. Agama pointed out that the capital market, which has played a key role in mobilizing funds for various sectors of the economy, can similarly be leveraged to finance the country’s infrastructure needs, …

The Securities and Exchange Commission (SEC) on Wednesday, explained that it granted approval-in-principle to two crypto exchanges recently to give Nigerian youths the opportunity for capital market participation. The News Agency of Nigeria (NAN) reports that SEC, on Thursday, granted Busha Digital Ltd., and Quidax Technologies Ltd., “approval-in-principle” to commence operation under the Accelerated Regulatory Incubation Program (ARIP). The Director …

The Securities Exchange Commission (SEC) says it plans to license providers of virtual assets including cryptocurrencies to tap opportunities and protect investors as adoption rates surge in Nigeria. Speaking during an interview with Bloomberg, SEC’s director-general, Emomotimi Agama said the commission intends to issue first licences for digital service and tokenised assets this month. “Being a crypto enthusiast and fintech …

The Securities and Exchange Commission (SEC) has vowed to ensure the settlement of unclaimed dividends, which stood at N215 billion as at March 2024. This is as the Commission said it has approved nine new issuances totaling N1.228 trillion as at August, 2024. The Director-General (DG) of SEC, Dr. Emomotimi Agama stated this during the Second Post CMC briefing held …

Nigeria’s capital market regulator, Security and Exchange Commission (SEC) has warned against investing in $Davido meme coin or any other kind of meme coin in the country, highlighting that doing otherwise was at the investor’s risk. Popular Nigerian singer, David Adeleke, a.k.a Davido, recently ventured into cryptocurrency in May, partnering with Phantom and Solana to launch $DAVIDO, whose market value …