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Capital Market

SEC to sanction CMOs frustrating e-dividend mandate

The Securities and Exchange Commission (SEC) has stated that it will sanction erring Capital Market Operators (CMOs) frustrating the e-dividend mandate process. Dividends are distribution of profits by a corporation to its shareholders and as at the last count, unclaimed dividends in the Nigerian Capital market stands at N200 billion. …

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Nigeria’s SEC moves against investment platforms trading foreign securities

The regulator warns operators to stop trading “unregistered” securities that are based in other countries.   Nigeria’s Securities and Exchange Commission (SEC) has warned capital market operators to stop giving support to online investment trading platforms providing access to foreign securities in Nigeria.   In a statement Thursday, the regulator said those securities were …

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NSE goes tough on quoted companies

Companies that are quoted on the floor of the Nigerian Stock Exchange (NSE) have 72 hours to submit their audited reports and accounts for the 2020 business year. Erring firms will be liable for monetary and social sanctions, including a tag for poor corporate governance, it was learnt on Sunday. …

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Stock market reacts to recession, loses N8b

Trading on the equities sector is already responding to economic recession, as the Nigerian Stock Exchange (NSE) reopened on a downturn yesterday, causing the market capitalisation to depreciate by N8 billion. The All-Share Index (ASI) shed 15.04 absolute points, representing a decline of 0.04 per cent to close at 34,121.78 …

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NSE delists Skye Bank, Fortis

The management of the Nigerian Stock Exchange, NSE, has delisted two companies from the daily official list of the Exchange. This was contained in a statement signed by Lilian Dako for the Head of Listings Regulation Department of the NSE on Wednesday. The two companies are Skye Bank Plc and …

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Stock market investors lose N366bn in three days

Equity investors in the Nigerian Stock Exchange lost a total of N366bn in the last three consecutive trading days. Last week, investors and other stakeholders welcomed the listing of Airtel Africa Plc’s shares on the NSE. The listing, which took place on Tuesday, added N1.36tn to the total market capitalisation …

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SEC opposes joining of Oando in Tinubu’s suit

Counsel to the Securities and Exchange Commission (SEC), Chief Anthony Idigbe (SAN), on Monday opposed an applicatio  seeking to join Oando Plc  in a suit filed its Group Chief Executive Officer, Mr Adewale Tinubu, and his deputy, Mr Omamofe Boyo. They duo are seeking  enforcement of their fundamental rights  before …

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