• Home
  • News
    • PHOTO NEWS
    • SPORTS
    • METRO
  • POLITICS
  • BUSINESS
    • Capital Market
    • Money Market
    • Aviation
    • Brands and Marketing
    • Property
    • Maritime
    • SMEs
    • Energy
  • INSURANCE & PENSIONS
    • Insurance
    • Pensions
  • WORLD
    • Africa
    • Asia
    • Europe
    • America
  • ENTERTAINMENT
  • METRO
  • EDUCATION
Search
Friday, December 13, 2019
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
    • Home – Layout 4
    • Home – Layout 5
  • News
  • Tech
  • Entertainment
  • Lifestyle
NEWSVERGE
  • Home
  • News
    • PHOTO NEWS
    • SPORTS
    • METRO
  • POLITICS
  • BUSINESS
    • Capital Market
    • Money Market
    • Aviation
    • Brands and Marketing
    • Property
    • Maritime
    • SMEs
    • Energy
  • INSURANCE & PENSIONS
    • Insurance
    • Pensions
  • WORLD
    • Africa
    • Asia
    • Europe
    • America
  • ENTERTAINMENT
  • METRO
  • EDUCATION
Home BUSINESS SEC: Initiatives aimed at making Capital Market deeper
  • BUSINESS

SEC: Initiatives aimed at making Capital Market deeper

By
Zacheaus Somorin in Toronto
-
December 2, 2019
Share on Facebook
Tweet on Twitter
  • tweet
SEC ready to commence capital market curriculum in secondary schools
Access Bank Plc

The securities and Exchnage Commission, SEC has said that it’s on going initiatives as contained in the ten year capital market master plan are aimed at making the market deeper, vibrant and more effective. Acting Director General of the SEC, Ms. Mary Uduk stated this in Lagos weekend, while speaking with newsmen.

She disclosed that the forbearance window for shareholders with multiple subscriptions is still open. and enjoined those who have not come forward for the regularization of shares purchased with multiple identities, to do so.

Uduk said: “The Multiple Subscription Committee presented the status of its ongoing engagement with the Central Bank of Nigeria (CBN) and Committee of Heads of Banking Operation to display multiple accounts regularisation banners in the banking halls all over the country.

“The committee also reported that CMOs have commenced the filing of report on regularised accounts with the commission, on a quarterly basis. Given the relevance of this exercise and the need to create more awareness, the committee requested for an extension of the deadline of multiple accounts regularisation.”

She said the SEC has developed a two-pronged approach to addressing the intractable challenges associated with transmission of shares related to the estate of deceased investors. “The first involves engagement with and enlightenment of the Probate Registry with a view to providing solutions to the cumbersome process of transmitting shares. Secondly, Rules are being developed around the time frame for transmission of shares and the fee structure” she stated.

Uduk said to boost the e-dividend mandate and Direct Cash Settlement initiatives, the SEC is engaging NIBSS (Nigeria Inter-Bank Settlement System) on behalf of the capital market community to facilitate identity validation and account validation in an effort to enhance market processes.

According to her, the Electronic distribution of annual accounts by public companies to shareholders continues to gain traction, as shareholders have largely accepted the new initiative which will ensure timeliness of information and cost reduction to public companies.

“On the need to grow the market for trading in securities on unlisted public companies, we are making concerted efforts in collaboration with CAC and other stakeholders to assist public companies that are yet to register their securities to do so without much difficulty” she added.

Share this:

  • WhatsApp
  • Tweet
  • More
  • Share on Tumblr
SHARE
Facebook
Twitter
  • tweet
Previous articleNSE opens December trading with 0.04% marginal loss
Next articleDapo Abiodun: Six months of giant strides in Ogun
Zacheaus Somorin in Toronto

RELATED ARTICLESMORE FROM AUTHOR

BUSINESS

AfCFTA: Pharmaceutical industry needs urgent bailout – MD, May & Baker

FG set to boost domestic production of milk – Emefiele
BUSINESS

Emefiele attributes Nigeria’s economic growth to CBN’s policy measures

NSE maintain bearish trend despite listing of Ellah Lakes additional shares
BUSINESS

Profit taking: NSE All-Share Index drops 0.13%

Arik Air to reopen routes as aircraft return from maintenance
BUSINESS

Arik Air resumes services to Asaba

BUSINESS

NDIC commends media for being part of its 30 years success story

NSE All-Share IndexMay 29: Market capitalisation inches to N490bn returns to 30,000 mark, amid MTN Nigeria gains
BUSINESS

NSE: market capitalisation sustains upward posture, up N65bn

GOOD TO KNOW

Davido Net Worth Davido's Net Worth & Lifestyle
Access Bank Banner

GTBank
Access Bank Plc

EDITOR PICKS

SEC, NSE streamline processes to boost market listing

Effective Regulation and Capital Market Development

Featured July 15, 2019

BREAKING: Atiku returns to Nigeria

BREAKING NEWS November 11, 2018
ASUU demands probe of N5m bribe allegedly collected by LASU Director

ASUU begins nationwide strike

BREAKING NEWS November 5, 2018

POPULAR POSTS

Tayo Adebayo

Implication of Treasury Single Account on Nigeria economy

BREAKING NEWS October 2, 2015

Iyalaya anybody By Prof. Pius Adesanmi

OPINION March 22, 2016
MISS NIGERIA VISITS AIR PEACE AIRLINE (PHOTO)

MISS NIGERIA VISITS AIR PEACE AIRLINE (PHOTO)

BREAKING NEWS November 12, 2015

POPULAR CATEGORY

  • News7566
  • BUSINESS4516
  • POLITICS3636
  • Headlines3183
  • SPORTS1924
  • BREAKING NEWS1269
  • WORLD1185
  • EDUCATION1091
  • METRO1000
ABOUT US
NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.
Contact us: editor@newsverge.com, (+1) 9293300338
FOLLOW US
  • About
  • Advertise
  • Privacy & Policy
  • Contact
© 2011- 2019 The Verge Communications. All Rights Reserved.