The Securities and Exchange Commission (SEC) has asked the Investments and Securities Tribunal (IST) to order the freezing of bank accounts belonging to Crypto Bridge Exchange (CBEX) and 25 other defendants alleged to have operated an unlawful digital asset investment scheme that defrauded Nigerians of an estimated N1.3 trillion. The request was made during the…
The Securities and Exchange Commission (SEC) has warned the public that it is illegal to use unregistered digital investment platforms, as concerns mount over the rising popularity of such platforms. This renewed stance by the Commission follows social media uproar surrounding the operations of CBEX, a digital asset platform currently under scrutiny for allegedly freezing…
Nigeria’s Securities and Exchange Commission (SEC) has reduced the time required for companies to secure approval to raise capital in the Nigerian capital market, cutting the process from over a year to just 14 days. This development aims to make the capital market more efficient and better positioned to support the growth and development of…
The Lagos Government has partnered Fidelity Bank Plc to foster entrepreneurship, spur jobs creation and boost economic growth. Governor Babajide Sanwo-Olu stated this during the official opening of the bank’s SME hub in Lagos. Speaking through the Secretary to the State Government (SSG), Barr. Bimbola Salu-Hundeyin, the governor said the government has been exploring private…
Nigeria’s capital market regulator, the Securities and Exchange Commission (SEC) said banks in the country raised N2.2 trillion from the capital market in 2024 to meet the Central Bank of Nigeria’s (CBN) new recapitalization requirements. It would be recalled that in November 2024, the SEC announced that banks had raised N1.7 trillion from the capital…
Nigeria’s Securities and Exchange Commission (SEC) said over N2.7 trillion has been raised in the capital market by banks and other companies with approximately N1.7 trillion raised by banks in onging recapitalisation exercises. Director-General of SEC, Dr. Emomotimi Agama, disclosed this to reporters during the 2024 SEC Journalists Academy with: “Fintech: Leveraging Technology to Drive…
