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Securities and Exchange Commission, SEC, yesterday, disclosed that it has set aside N5 billion as seed capital for the take off of the proposed Nigerian Capital Market Development Fund, NCMDF.
The Commission also warned that it would henceforth prosecute investors using false identity for share subscription.
The apex capital market authority also indicated that its shares dematerialization programme has run its full course achieving a 100 per cent dematerialisation of shares with over 2.2 million investors mandating their accounts for e-dividend to-date.
The Director General of the Commission, Mr. Mounir Gwarzo, who stated these at the 2017 first quarter post Capital Market Committee, CMC, media briefing, said following the setting aside of the take off capital, the NCDF will be launched at the second quarter CMC meeting, with the inauguration of the Board expected to take place in August 2017.
