CAPITAL MARKET Again, SEC warns against patronage of Ponzi schemes The Securities and Exchange Commission (SEC) has once again, bemoaned the proliferation of fraudulent investment outfits in the capital market, urging investors to desist from patronizing of such illegal operators. The Director-General of SEC, Lamido Yuguda, while speaking at the second post-Capital Market Committee (CMC)…
CAPITAL MARKET Shareholders kick as unclaimed dividends hit N170bn Last weekend’s revelation by the Securities and Exchange Commission (SEC) that the country’s unclaimed dividend has now risen to N170 billion has sparked off concerns among shareholders in the Nigerian Capital Market (NCM) that the funds may be appropriated by Nigeria’s financially challenged Federal Government. This…
CAPITAL MARKET SEC secures AfDB grant to boost investor protection, regulation The Securities and Exchange Commission (SEC) has received financing from the African Development Bank (AFDB) to strengthen its regulatory capacity, especially in the areas of investor protection and minimizing systemic risk. The grant from the AfDB Group/Capital Markets Development Trust Fund is to finance…
CAPITAL MARKET SEC, AfDB Commence Implementation of Risk-based Supervision Project The Securities and Exchange Commission (SEC) and African Development Bank (AfDB) have commenced the implementation of the regulatory capacity improvements under the risk-based supervision framework and capacity building project. The SEC in a statement yesterday said the project funded from the AfDB Group administered/Capital Markets…
CAPITAL MARKET Dangote Cement lists N150bn bonds on NGX The Nigerian Exchange Limited said on Tuesday that Dangote Cement Plc listed three N50bn tranches of bonds under the N300bn Debt Issuance Programme. According to the NGX, the bonds are 3.64 million units of a three-year 11.25 per cent senior unsecured fixed rate bond due 2024;…
CAPITAL MARKET NIPOST Alleges Shady Deals in Capital Market, Raids Courier Firm over N15m Illegal Contract The Courier and Logistics Regulatory Department (CLRD) of the Nigerian Postal Service (NIPOST), has announced that it has uncovered some of the shady deals going on at the Nigerian capital market, involving some company registrars. The recent exposure was…
CAPITAL MARKET FMDQ attracted N411bn worth of securities in 2020 Amid the harsh operating environment, FMDQ Securities Exchange’s activation of market penetration strategy for securities-related services attracted a total of 21 securities valued at about ₦411 billion in 2020. At the exchange virtual 9th yearly general meeting held at the weekend, the Group Chairman, Dr.…
CAPITAL MARKET Caverton Plc Posts N780m Profit Caverton Offshore Support Group Plc the leading provider of marine and aviation logistics services to local and international oil and gas companies in Nigeria has announced its unaudited results for the period ended 30th June 2021. The results show a Profit-Before-Tax of N924million, (and a Profit-After-Tax of N780million).…
CAPITAL MARKET SEC, issuers parley to attract more listings as index rises by 0.03% The Director General of the Securities and Exchange Commission (SEC), Lamido Yuguda has stated that the Securities Issuers Forum (SIF) will create a platform for issuers to brainstorm on how to attract more listings and improve contribution of issuers to the…
CAPITAL MARKET Seplat posts 143% profit rise, declares 2.5 cents dividend Seplat Energy Plc announced in its 2021 half-year financial results that its profit before deferred tax rose by 142.74 per cent to $62.10m (N42.70bn), while it declares an interim dividend of 2.5 cents per ordinary share. The company said its revenue in H1 2021…