157 inactive capital operators risk withdrawal of certificates by SEC

Nigeria’s Securities and Exchange Commission (SEC) has issued pre-notice on the cancellation orwithdrawal of certificates of registration of inactive capital market operators.

This information is contained in a circular issued by the SEC on 10th November 2020.

The regulator stated that the listed Capital Market Operators (CMOs) were registered by it to undertake various functions in the Nigerian capital market.

However, the CMOs have consistently failed to render their statutory returns to the Commission, had their capital eroded, while others were affected by policy changes.

“As a result of this, the Commission hereby requests the affected CMOs to make presentations to the Commission, on or before 13th November 2020, giving reasons why their registration should not be cancelled,” the Commission said.

SEC emphasized that the hard copies of the presentations should be forwarded to the Commission’s head office while soft copies should be sent to the following email addresses:inspectorate@sec.gov.ng and monitoring@sec.gov.ng