The Securities and Exchange Commission (SEC) has prohibited the Chief Executive Officers (CEOs) from transitioning directly to board chairmanship positions in the company group, prescribing a three-year cooling-off period. The Commission in a circular also barred Independent Directors from transitioning into Executive Director roles within the same company or group. In the circular to public companies and capital market operators …

The Securities and Exchange Commission (SEC) says the Crypto Bridge Exchange (CBEX), operating under the corporate identity of ST Technologies International Ltd., remains banned in Nigeria. SEC, in a public notice issued on Wednesday, said that CBEX, also known as Smart Treasure/Super Technology, had not been registered by the commission. The commission, however, advised the public to refrain from patronising …

The Securities and Exchange Commission (SEC) has cautioned Nigerians against investing in a cryptocurrency called Punisher Coin, also known by the symbol $PUN. In a statement on Sunday in Lagos, SEC said the presale was unauthorised and lacked regulatory approval, resembling a Ponzi scheme. According to the statement, the promoters of $PUN are not registered to operate in any capacity …

The Securities and Exchange Commission (SEC) has warned the public against investing in unregistered investment schemes, specifically naming Silverkuun Investment Cooperative Society and Silverkuun Limited. In a circular issued on Wednesday, the commission stated that it had been alerted to the activities of these entities, which falsely present themselves as investment advisers and fund managers in the Nigerian capital market. …

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, …