Tag Archives: SEC

MMM will lead to losses, Access bank warns customers Access Bank Nigeria Plc has warned its customers to avoid dealing with Mavrodi Mondial Movement, a Ponzi scheme, which has been declared illegal by the Central Bank of Nigeria and the Securities and Exchange Commission. The bank in an emailed statement to its customers said it had come to its attention …

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Union Bank Get’s Nod to Raise N50 Billion Right Issue Sequel to its growth plans, Shareholders of Union Bank of Nigerian Plc yesterday approved the request of board of directors to raise N50 Billion for the bank growth plans. The approval was given at an Extra Ordinary General Meeting (EGM) held in Lagos. However, this is subject to the company …

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SEC, Fund Managers Work on E-Transfer to Boost Financial Inclusion The President of Fund Managers Association of Nigeria (FMAN), Dr. Ore Sofekun has said that the association is working with the Securities and Exchange Commission (SEC) on electronic transfer of funds so as to boost financial inclusion. Speaking at the annual workshop of Capital Market Correspondents Association (CAMCAN) of Nigeria …

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We‘ll Continue To Finance Development Projects –Ecobank MD The Managing Director, Ecobank Nigeria, Charles Kie, has restated the commitment of the Bank to continue to support projects that impact positively on the lives of the people and economic development of the country. Speaking at the commissioning of Abia Retail Shopping Mall (Shoprite) in Umuahia, Abia State recently, Kie who was …

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SEC, sole approving authority for securities—Adeosun  Finance Minister, Mrs. Kemi Adeosun, has reiterated that the responsibility for the supervision, regulation and approval of issuance of securities in the local market for Nigeria’s internal debt rests solely with the Securities and Exchange Commission (SEC). The minister stated this in a circular explaining that, in line with its powers as conferred by …

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Naira loses 85% of value in two years – CBN …enjoins risk managers to be on top of their job As Nigerians continued to grapple with the hash economic realities bedeviling the domestic economy, the Central Bank of Nigeria has disclosed that the naira has lost about 85 per cent of its value in the last two years and that …

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FCMB reports N140.7bn gross earnings in Q3 Despite the hash economic realities in the domestic economy, First City Monument Bank (FCMB) Group Plc yesterday reported N140.7 billion in gross earnings for the third quarter ended September 2016, 29 per cent above N109.3 billion recorded in the same period prior year. The group non-interest income stood at N44.8 billion, for Q3 …

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  Unclaimed Dividend: Investors Paid Over N29bn from November Last Year Till-Date -Gwarzo FRIDAY EKEOBA As part of the Securities and Exchange Commission (SEC) drive to reduce the unclaimed dividend in the domestic economy, Registrars of companies in the Nigerian capital market have paid over N29 billion to investors that have not been able to claim their dividend. The Director …

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