SEC moves to introduce fintech in capital market
Director-General of the Securities and Exchange Commission (SEC), Lamido Yuguda, has hinted that the capital market will soon be strengthened with finance technology Yuguda spoke yesterday when he appeared before the Senate Committee on Capital Market to defend the commission’s 2021 budget proposal. Fintech relates to any business that uses technology to enhance or automate…
Imo orders contractor to refund N1.4 billion for road project
Dissatisfied with the pace of work on the Nekede/Ihiagwa/Federal University of Technology (FUTO) highway in Owerri West Local Council, the state government has ordered the contractor to refund immediately the N1.4 billion mobilisation fee paid by the administration of Emeka Ihedioha. To show seriousness, the State Executive Council (SEC) mandated the Attorney General and Commissioner…
Investors blame government for slow capital market development
• Seek investment in critical infrastructure, institutions Capital market investors have blamed the government for the slow pace of the development of the nation's capital market. The experts, who spoke in separate interviews, said the government has not invested in developmental projects, critical infrastructure, and institutions responsible for developing the market. The President, Standard Shareholders…
Academia seeks capital market collaboration to stimulate economic growth
The Academia has called for active collaboration with capital market practitioners to stimulate in-depth discussions on issues that would spur market development. According to the President, Capital Market Academics of Nigeria, Prof. Uche Uwaleke, this would be a game-changer in efforts to develop the local bourse. Speaking at a symposium themed, “Role of the Academia…
SEC approves CCCP to hedge against risks
NG Clearing Limited has secured approval in principle from the Securities and Exchange Commission (SEC), to launch clearing and settlement of Exchange-traded derivative products as Nigeria’s premier Central Counterparty Clearing House (CCCP).
Experts want SEC, CBN clear directive on cryptocurrency in Nigeria
Financial experts have stressed the need for the Securities and Exchange Commission (SEC), and Central Bank of Nigeria (CBN) to work together and chart a clear, articulated and progressive course on cryptocurrencies in Nigeria and avoid regulatory overlap.
‘Digital assets classification will protect investors’
Securities and Exchange Commission (SEC) has said recent guidelines on Digital Assets, Classification and Treatment is aimed at boosting investors’ protection in the capital market.
Appraisal of SEC proposed rules on crowdfunding and its impact on Fintech Ecosystem in Nigeria
The Securities and Exchange Commission’s (SEC) proposed rules on crowdfunding have elicited different reactions from stakeholders. It has rattled the cage of most businesses that leverage on the internet to access credit to finance their business, businesses that create an opportunity for other businesses to access credit on their platforms, and operators of financial portals.…
Underwriters show resilience amid challenging environment
.As SEC, NAICOM approves yearly accounts, virtual meeting Despite the challenging environment, underwriting companies continue to show resilience in their performances to move the sector to greater heights. Speaking on how operators can increase gross written premium in the industry, the Managing Director/Chief Executive Officer, Capital Express Assurance, Mrs Adebola Odukale, during the 19th and…
Four professional bodies to float securities institute
The Chartered Institute of Stockbrokers (CIS), in collaboration with three other professional bodies, has signed a Memorandum of Understanding (MoU) to establish the CISIM
SEC partners stakeholders to resolve multi-billion Naira unclaimed dividends, says Yuguda
The Securities and Exchange Commission (SEC) on Friday said it would work with all capital market stakeholders to tackle the issue of unclaimed dividends, valued at N158.44 billion as at December 2019.