The Securities and Exchange Commission (SEC) has directed the immediate freezing of assets belonging to 13 capital market entities and individuals allegedly linked to terrorism financing. The directive follows their designation on the Nigeria Sanctions List by the Nigeria Sanctions Committee, which includes 10 individuals and three entities flagged for sanctions enforcement. According to the…
The Securities and Exchange Commission (SEC) has urged Nigerian civil servants to take advantage of the capital market to grow wealth, improve financial security, and contribute to national economic development. During a strategic engagement with Head of Service Didi Walson-Jack, SEC Director-General Dr. Emomotimi Agama stressed that civil servants should move beyond being salary earners…
The Securities and Exchange Commission (SEC) has established a dedicated desk to expedite approval processes related to the ongoing recapitalisation of the insurance sector, committing to deliver decisions within 14 days of receiving complete applications. This was revealed in Lagos at the conclusion of the 19th Insurers’ Committee meeting, by Ebelechukwu Nwachukwu, Head of the…
The Securities and Exchange Commission (SEC) is currently investigating 79 suspected Ponzi schemes operating across Nigeria. In a statement on Tuesday, the commission disclosed that it will release its findings upon conclusion of the ongoing probes. One of the schemes under scrutiny is “FF Tiffany,” which has reportedly defrauded thousands of Nigerians at home and…
The Securities and Exchange Commission (SEC) has issued a public warning against engaging with Forsman & Bodenfors Ltd, citing alleged fraudulent activities linked to the company. In an official statement, the SEC stated that the entity is not registered with the commission and is operating without regulatory approval, which violates Nigeria’s capital market laws. The…
The Securities and Exchange Commission (SEC) has reiterated that Crypto Bridge Exchange (CBEX), operating under the name ST Technologies International Ltd.—also known as Smart Treasure or Super Technology—remains banned from conducting business in Nigeria. In a public notice issued on Wednesday, the Commission clarified that neither CBEX nor its affiliated entities are registered with or…
The Securities and Exchange Commission (SEC) has uncovered another suspected illegal investment platform identified as TOFRO.COM (Tofro). The Commission raised the alarm in a notice issued made available to newsmen. The Commission warned Nigerians against falling for their tactics to obtain money from them through the promise of unusually high returns.SEC said the suspected investment…
