Tag Archives: SEC

The Securities and Exchange Commission (SEC) said the attention of the Commission has been drawn to a publication by Sahara Reporters titled “How SEC Director-General Illegally Paid Self Severance Benefit, Awarded Contracts To His Companies”. SEC said it had been aware of the allegations contained in that article since January 2017 following the receipt of a petition to that regard. …

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Despite the challenging operating environment, Access Bank Plc, one of the leading tier one bank, has announced its third quarter (Q3) results for 2017 which reflect the Bank’s ability to generate sustainable earnings. The full service commercial bank with headquarters in Nigeria, has its other operations across Sub-Saharan Africa, the UK, Asia and the Middle East, According to the bank’s …

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  Mounir Gwarzo, Director-General of the Securities and Exchange Commission (SEC), allegedly got a severance package of N104 million from the same commission shortly after he was named DG in 2015, Thecable news has said. He was an executive commissioner at SEC when former President Goodluck Jonathan appointed him to lead the commission on May 22, 2015. On assuming office …

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The National Bureau of Statistics (NBS) says the Gross Domestic Product in real terms declined in the third and fourth quarters of 2016. The NBS made this known in its “Nigerian Gross Domestic Product (GDP) Report on Expenditure and Income Approach for the third and fourth quarter of 2016 released in Abuja. According to the report, the decline followed the …

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The slidding mood on the floor of the Nigerian Stock Exchange (NSE) came under control on Tuesday as the All-Share Index gained 118.89 points or 0.33 per cent to close at 36,531.62, compared with 36,412.73 recorded on Monday. Also, the market capitalisation increased by N41 billion or 0.33 per cent to close at N12.574 trillion against N12.533 trillion achieved on Monday. Specifically, the financial …

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Unilever Nigeria Plc has appointed a new Non-Executive Director, Mr. Chika Nwobi to the board of the company. According to the company’s legal Director & Company Mrs. A. Ademola his appointment takes effect from 1 January, 2018. Chika Nwobi is founder of Level 5 Lab (L5Lab)– a venture development firm that has incubated several successful African tech companies including Jobberman.com …

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Oando PLC, Nigeria’s largest indigenous Oil & Gas Company has finally reacted strongly to the Securities & Exchange Commission’s (SEC’s) alleged findings following an investigation into the company which began in May of this year, following a petition filed by Ansbury Inc. and Alhaji Dahiru Mangal. SEC on Wednesday, 18 October 2017 had published a statement on its website detailing …

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Seplat Petroleum Development Company Plc (Seplat) has announced N1.62 billion loss in third quarter ended September 30, 2017 from N24 billion loss reported in third quarter ended September 30, 2016. Nigerian independent oil and Gas Company listed on both the Nigerian Stock Exchange and London Stock Exchange reported 70 per cent increase in revenue to N85.19 billion in third quarter …

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Oando has obtained a court order halting the suspension of trading in its shares and a forensic audit planned by the Securities and Exchange Commission (SEC), court documents seen by Reuters showed on Tuesday. Shares in Oando Plc were frozen at N5.99 on Monday until further notice, the stock exchange said after the Securities and Exchange Commission (SEC) ordered a …

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Jingdong Hua, Vice President and Treasurer Nigeria is already one of the largest economy and the country with the biggest population on the African continent. By 2050, it will be home to 410 million people, making it the third most populous country in the world. Sustained economic growth is therefore imperative to meet the challenges of this demographic transformation, bringing …

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