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Budget Deficit Undermines Investors’ Confidence – SEC

The Director General of the Securities and Exchange Commission, Mounir Gwarzo, has said large budget deficits can affect stock prices and undermine investor confidence. Speaking at the 2017 Budget seminar, organized by the SEC, Gwarzo said the primary concerns for investors, in regard to both...

Beware of Bitcoin, Swisscoin, Others, SEC Warns Nigerians

The Securities and Exchange Commission said its attention had been drawn to radio advertisements and other modes of solicitations of the public to invest in crypto currencies such as Swisscoin, OneCoin, Bitcoin and such other virtual or digital currencies. SEC, therefore, advised the public to...

SEC defends N4.5b Staff Emoluments

The Security and Exchange Commission (SEC) has said it has always been cautious on the renumeration of its workers following a reported payment of N4.5billion yearly as staff salaries. Its Director-General, Munir Gwarzo, who appeared before the Tajudeen Yusuf – led House of Representatives Committee...

SEC Clears NAHCO, Director of Alleged Governance Breach

The Securities & Exchange Commission (SEC) has cleared the Nigerian Aviation Handling Company (NAHCO) Plc and a director, Suleiman Yahyah, of allegations of corporate governance breaches. Documents received from a source in the Presidency indicated that SEC in response to a petition sent to the...

SEC Probes Stockbroking Firm Over Shares Fraud

Securities and Exchange Commission (SEC) has launched investigation into alleged multi-million Naira shares fraud involving a stockbroking firm, WT Securities Limited, in another high-profile case after the apex capital market regulator indicted and banned two BGL companies from the capital market. In a preliminary indictment...

FG Inaugurates Committee For First Sovereign Sukuk

The Securities and Exchange Commission (SEC) and the Debt Management Office (DMO) have inaugurated a committee for the nation’s first sovereign “Sukuk”. Sukuk is an Islamic financial certificate, similar to a bond in Western finance that complies with the Islamic religious law, Sharia. Mr Mounir Gwarzo,...