SEC Activates Business Continuity Process

In compliance with the Federal Government’s directives on the cessation of movement in Lagos, Ogun and the Federal Capital Territory, the Securities and Exchange Commission, SEC has activated its business continuity process.

Consequently, staff of the Commission are working remotely while all its electronic channels remain open to provide the necessary support to capital market stakeholders. 

This was stated in a circular dated March 31, 2020 and released by the SEC.

According to the SEC, In light of the global pandemic of the Coronavirus Disease (COVID-19) and in furtherance to the Commission’s circular of March 24, 2020, the Commission wishes to provide additional guidance to the Capital Market as follows:

“All public companies are required to continue to make material disclosures to investors on the impact of COVID-19 Pandemic on their business operations. 

“They should also continue to disclose the trend and outlook for the company, and updates on implementation of business continuity plans. Public companies are to publish these disclosures on their websites and on other relevant media.

“Public companies who plan to conduct AGMs are required to ensure that the conduct of the meetings comply with the provisions of the Companies and Allied Matters Act, the Investments and Securities Act, the SEC Rules and Regulations, relevant government and health circulars and guidelines issued in this regard.

Debt Issuers are also expected to continue to engage Trustees to ensure that relevant disclosures are provided. Trustees are required to provide updates to the Commission accordingly.

 

The Commission enjoins all CMOs  to continue to monitor the real and potential risks COVID-19 may have on their business operations and the discharge of services to investors and clients, stating that for further guidance, the Commission may be contacted through the dedicated email addresses for filing CMOs returns.

 

The SEC enjoined all Issuers and Trustees who may require further guidance to contact the Commission through the following email addresses:quotedcoyreturns@sec.gov.ng,offerapplications@sec.gov.ng, and dhpostoffer@sec.gov.ng

The SEC added that it will continue to engage and collaborate with all stakeholders to ensure that the capital market remains resilient.

“While we work to maintain market stability, we encourage everyone to continue to comply with all directives issued by the Federal Government and relevant agencies during this challenging period” the SEC added.

NSE Records N1.870trn Loss In First Quarter Of 2020

The Nigerian Stock Exchange (NSE) market capitalisation lost N1.870 trillion in the first quarter of this year.

Nigerian stocks during the period suffered high volatility which was deepened by the impact of Coronavirus (COVID-19) pandemic and the oil prices crash.

The market capitalisation declined by N1.870 trillion to close the period under review at N11.101 trillion from N12.971 trillion at which it opened for trading activities on January 2, 2020.

Also, the overall market performance measure All-Share Index (ASI), which tracks the general market movement of all listed equities on the Exchange, declined by 20.73 per cent to close at 26,867.79 points in the first three months of the year.

Also, the sector performance was bearish as all indices closed the period on decline as at March 27, 2020. NSE Consumer Goods index depreciated the most by 44.84 per cent while NSE Banking index followed with a decline of 30.64 per cent, as NSE 30 index shed 23.03 per cent.

Others are NSE Pension, Oil and Gas, Lotus 11, Premium Board, Insurance and Industrial Goods, which went down by 20.30 per cent, 19.44 per cent, 15.49 per cent, 12.69 per cent, 6.14 per cent and 3.21per cent in that order.

The global pandemic, coronavirus now popularly referred to as COVID-19, has virtually “afflicted” many stock markets and devastated economies across the globe, whether developed or developing.

2020 has been a whirlwind for the global oil market, following the outbreak of the virus, which has hampered oil demand from one of the largest consumers of oil, China represent 13.1 percent of world demand.

With the virus spreading across other key demand regions, Europe (14.4 per cent) and United States (20.9 per cent), the outlook for oil prices is weak.

While relation among the Organisation of Petroleum Exporting Countries (OPEC+) was meant to provide support for falling oil prices, a failed agreement turned into a full-blown price war, with major oil producers offering significant discounts on their April Official Selling Prices

VON

SEC Unveils Regulatory Framework For Crowd Funding

…. Pegs paid up capital at N100m

Conscious of the need to further deepen the nation’s capital market and enable it provide development capital for Medium and Small-scale Enterprises of the economy, Nigeria’s Securities and Exchange Commission (SEC), at the weekend unveiled an exposure draft of its regulatory framework for crowdfunding in the country.

This is also in line with global best practices.

The draft, when approved, proposes conditions under which private companies are permitted, “with the required structure and mechanism in place” to raise capital from the public through a process called Crowdfunding.

It defines Crowdfunding as “the process of raising funds to finance a project or business from the public through an online platform,” which could be a “website, portal, intermediary portal, application, or other similar modules that facilitate interaction between fundraisers and the investing public.”

The funding occurs within a period known as funding round, “within which a specific project, business, or venture is hosted on a crowdfunding platform to raise funds from a large number of people in exchange for shares, debt securities or other investment instruments approved by the commission. The funds may either be pooled from high net worth investors, or a large number of people through an online platform in exchange for any investment instruments approved by the commission, which also be plain vanilla bonds or debentures, and simple contracts.

According to the commission, total fees payable to parties to a crowdfunding issue shall not exceed two per cent of the total funds raised.

The commission noted that the maximum amount which might be raised by a medium enterprise shall not exceed N100 million.

“The maximum amount which may be raised by a small enterprise shall not exceed N70 million; and the maximum amount which may be raised by a micro enterprise shall not exceed N50 million.

“The limits set forth above shall not apply to MSMEs operating as digital commodities investment platforms or such other MSMEs as may be designated by the commission from time to time,” it said.

For the purpose of calculating the aggregate amount of securities and investment instruments offered and sold by an issuer under this Rule and determining whether an issuer has previously sold securities or investment instruments within a 12-month period, according to the SEC, “the term issuer as used in this Rule, shall include all entities controlled by or under common control with the issuer and any predecessors of the issuer.”

According to the rule, crowdfunding portal that is located outside Nigeria will be considered as actively targeting Nigerian investors, if the operator or the operator’s representative, promotes directly or indirectly the platform in Nigeria.

It stated that a crowdfunding portal might be registered and operated only by an operator registered with the SEC as a Crowdfunding Intermediary.

“Only entities registered with the Commission as an Exchange, dealer, broker, broker/dealer or alternative trading facility as prescribed under the Act and the SEC Rules and Regulations might be registered as a Crowdfunding Intermediary. Only entities registered with the commission in the prescribed format as an exchange, dealer, broker, broker/dealer or Alternative Trading Facility as prescribed under the Act and the SEC Rules and Regulations may be registered as a Crowdfunding Intermediary.

“Every crowdfunding portal is required to “appoint a custodian, who shall establish and maintain a separate trust account for each funding round on its platform with a financial institution registered by the commission as a Custodian.

To be hosted on a Crowdfunding Portal, a proposed issuer must submit relevant information including explanations of the key characteristics of the company; the purpose of the listing and the targeted offering amount; and the audited financial statements of the company.

The commission explained that retail investors might not invest more than 10 per cent of their annual income in a calendar year.

It added that crowdfunding portal or crowdfunding intermediary that failed to comply with the rules shall be liable to a fine of not less than N1 million and the sum of N10,000 for every day the violation continues.

Mutual funds to hit N1.5tr in 2020- SEC

The Securities and Exchange Commission has expressed optimism that Collective Investment Scheme (CIS) or Mutual funds in the capital market will hit N1.5 trillion before the end of the year.
CIS also known as Mutual Funds is an arranged pool of funds managed on behalf of investors by a professional money manager which may invest in; ventures capital, portfolio of stocks Bonds and other securities.
Ms Mary Uduk, acting Director-General SEC, stated this over the weekend at the Capital Market Correspondents Association of Nigeria (CAMCAN) forum sponsored by the commission in Lagos.
Uduk said the commission was setting up more strategies to develop the mutual fund segment in the Nigerian capital Market.
Uduk who was represented by the Head, Office of Economics at SEC, Mr Okey Umeano, noted that the segment which currently stands at N1.2 trillion is growing and urged retail investors to use the funds as a means to access the market.
“In any advanced market, the Collective Investment Scheme form a very big part of the market.
“We at the commission have discovered that some of the investors who lost their savings during the crisis in 2008 are low on confidence.
“That is the reason why we are encouraging retail investors to go through these mutual funds because they are set up and approved by capital market operators and the SEC and the SEC regulates them (operators).
“Currently the size of the segment stands at N1 trillion but we expect it to grow much higher.
“So we are urging retail investors and high networth investors to use the mutual funds route to enter the market”, Uduk said.
Corroborating her, Divisonal Head, Economic, Research and Policy Management, SEC,  Dr Afolabi Olowookere, noted that the commission expects to see a significant rise of N1.5 trillion or N2 trillion in mutual funds.
Olowookere noted that about 480,000 investors had keyed into that the investment segment.
“We still expect that size to get to N1.5 or N2 trillion and the reason is because it provides an avenue for retail investors to buy.
“The mutual fund may not have very high return but definitely it won’t have low return and with the SEC at the forefront of financial inclusion, we are pushing collective investment scheme because it brings some form of stability for investments.
“The number of units of account in that segment currently stands at 480,000 investors and it would likely increase”, he said.
Uduk said domestic investors transactions in January outperformed foreign investors execution by 40 per cent, which accounted for N70.32 billion.
According to her, breakdown of domestic investors transactions show that the domestic institutional transactions accounted for N83.47 billion, while domestic retail transactions stood at N81.67 billion.
Uduk said the trend re-emphasised the need for increase retail investors’ participation in the market.
She stressed the importance of not allowing uncertainties dampen our resolve to attain the strong capital market of the nation’s dream.
“In spite of these trends, clearly, the fundamentals of our markets and economies remain solid and promising as astute investors know.
“I therefore, urge retail investors to leverage on this and invest in the capital market, which is one of the avenues to build sustainable and long-term wealth,” Uduk noted.
She noted that the commission in conjunction with other self-regulatory organisations (SROs) had continued to enhance the regulatory framework through various policy reforms and initiatives to boost investors’ confidence.
“There is therefore the need for increased participation of local (retail and institutional) investors in the market and for foreign investors to have higher confidence concerning the safety of their investments,” she added.
Uduk explained that the 10-year Capital Market Master Plan (CMMP) was developed in 2015 to map out strategies for improvement of the Nigerian Capital market in areas such as investor protection and education, professionalism and product innovation, among others.
She said the commisison this year would drive several market initiatives in a bid to restore investor confidence thereby increasing participation in the market.
She listed the initiatives as deployment of Real Time Automated Market Surveillance System; driving the growth of Collective Investment Schemes (CIS); capital market literacy and completion of the infusion of capital market into schools’ curricula.
Uduk added that SEC would ensure robust engagement with sister agencies like the Central Bank of Nigeria, PENCOM, National Insurance Commission and others to ensure consideration of the capital market in policy making.
She stated that the commission would leverage the success of the e-Dividend initiative to drive Direct Cash Settlement and solve the multiple subscription problem in the market.
“Notwithstanding the numerous initiatives and strategies being implemented, the commission realises that more still needs to be done.
“Our market’s performance is reasonably influenced by activities of foreign investors such that their instantaneous exit poses a challenge.
Inauguration Ceremony of Anti-Corruption, Transparency Unit and Monitoring Unit of SEC in Abuja

Cross Section of the Securities and Exchange Commission Staff Anti-Corruption Uit and their Management during the Inauguration Ceremony of Anti-Corruption, Transparency Unit and Monitoring Unit of SEC in Abuja yesterday
Cross Section of the Securities and Exchange Commission
Staff Anti-Corruption Uit and their Management during the Inauguration
Ceremony of Anti-Corruption, Transparency Unit and Monitoring Unit of
SEC in Abuja yesterday
L-R, Head Anti-Corruption Unit, Independent Corrupt Practices and other Related Offences Commission Barr Ifeanyi Obialor, Acting, Executive Commissioner Operations, Securities and Exchange Commission Mr Isyaku Tilde and Acting Director General  SEC Ms Mary Uduk during the Inauguration Ceremony of Anti-Corruption, Transparency Unit and Monitoring Unit of SEC in Abuja yesterday
L-R, Head Anti-Corruption Unit, Independent Corrupt Practices and other Related Offences Commission Barr Ifeanyi Obialor, Acting, Executive Commissioner Operations, Securities and Exchange Commission Mr Isyaku Tilde and Acting Director General SEC Ms Mary Uduk during the Inauguration Ceremony of Anti-Corruption, Transparency Unit and Monitoring Unit of SEC in Abuja yesterday
L-R, Head Anti-Corruption Unit, Independent Corrupt Practices and other Related Offences Commission Barr Ifeanyi Obialor, Acting, Executive Commissioner Operations, Securities and Exchange Commission Mr Isyaku Tilde and Acting Director General  SEC Ms Mary Uduk during the Inauguration Ceremony of Anti-Corruption, Transparency Unit and Monitoring Unit of SEC in Abuja yesterday
L-R, Head Anti-Corruption Unit, Independent Corrupt Practices and other Related Offences Commission Barr Ifeanyi Obialor, Acting, Executive Commissioner Operations, Securities and Exchange Commission Mr Isyaku Tilde and Acting Director General SEC Ms Mary Uduk during the Inauguration Ceremony of Anti-Corruption, Transparency Unit and Monitoring Unit of SEC in Abuja yesterday
Photos: International Conference on Nigerian Commodities Market in Abuja, Monday

LR,  Acting Director General Securities and Exchange > Commission Ms Mary Uduk , Minister of State for Industry, Trade and > Investment Mrs Mariam Katagum and Minister of Finance, Budget and > National Planning Mrs Zainab Ahmed during the International Conference > on Nigerian Commodities Market in Abuja, Monday >
LR, Acting Director General Securities and Exchange
> Commission Ms Mary Uduk , Minister of State for Industry, Trade and
> Investment Mrs Mariam Katagum and Minister of Finance, Budget and
> National Planning Mrs Zainab Ahmed during the International Conference
> on Nigerian Commodities Market in Abuja, Monday
>
LR,  and Minister of State for Industry, Trade and > Investment Mrs Mariam Katagum, Chairman, Senate Committee on Capital > Market Sen Ibikunle Amosun  and Acting Director General Securities and > Exchange Commission Ms Mary Uduk during the International Conference > on Nigerian Commodities Market in Abuja, Monday
LR, and Minister of State for Industry, Trade and
> Investment Mrs Mariam Katagum, Chairman, Senate Committee on Capital
> Market Sen Ibikunle Amosun and Acting Director General Securities and
> Exchange Commission Ms Mary Uduk during the International Conference
> on Nigerian Commodities Market in Abuja, Monday
 LR,  Minister of Finance, Budget and National Planning > Mrs Zainab Ahmed, Chairman, Senate Committee on Capital Market Sen > Ibikunle Amosun , Acting Director General Securities and Exchange > Commission Ms Mary Uduk and Minister of State for Industry, Trade and > Investment Mrs Mariam Katagum during the International Conference on > Nigerian Commodities Market in Abuja, Monday >
LR, Minister of Finance, Budget and National Planning
> Mrs Zainab Ahmed, Chairman, Senate Committee on Capital Market Sen
> Ibikunle Amosun , Acting Director General Securities and Exchange
> Commission Ms Mary Uduk and Minister of State for Industry, Trade and
> Investment Mrs Mariam Katagum during the International Conference on
> Nigerian Commodities Market in Abuja, Monday
>
LR,  and Minister of State for Industry, Trade and > Investment Mrs Mariam Katagum, Chairman, Senate Committee on Capital > Market Sen Ibikunle Amosun  and Acting Director General Securities and > Exchange Commission Ms Mary Uduk during the International Conference > on Nigerian Commodities Market in Abuja, Monday
LR, and Minister of State for Industry, Trade and
> Investment Mrs Mariam Katagum, Chairman, Senate Committee on Capital
> Market Sen Ibikunle Amosun and Acting Director General Securities and
> Exchange Commission Ms Mary Uduk during the International Conference
> on Nigerian Commodities Market in Abuja, Monday
LR,  Acting Director General Securities and Exchange > Commission Ms Mary Uduk , Minister of State for Industry, Trade and > Investment Mrs Mariam Katagum and Minister of Finance, Budget and > National Planning Mrs Zainab Ahmed during the International Conference > on Nigerian Commodities Market in Abuja, Monday >
LR, Acting Director General Securities and Exchange
> Commission Ms Mary Uduk , Minister of State for Industry, Trade and
> Investment Mrs Mariam Katagum and Minister of Finance, Budget and
> National Planning Mrs Zainab Ahmed during the International Conference
> on Nigerian Commodities Market in Abuja, Monday
>
LR,  Chairman, House Committee on Capital Market Hun > Babangida Ibrahim, Minister of Finance, Budget and National Planning > Mrs Zainab Ahmed, Acting Director General Securities and Exchange > Commission Ms Mary Uduk and Minister of State for Industry, Trade and > Investment Mrs Mariam Katagum during the International Conference on > Nigerian Commodities Market in Abuja, Monday
LR, Chairman, House Committee on Capital Market Hun
> Babangida Ibrahim, Minister of Finance, Budget and National Planning
> Mrs Zainab Ahmed, Acting Director General Securities and Exchange
> Commission Ms Mary Uduk and Minister of State for Industry, Trade and
> Investment Mrs Mariam Katagum during the International Conference on
> Nigerian Commodities Market in Abuja, Monday
LR,  Chairman, House Committee on Capital Market Hun > Babangida Ibrahim, Minister of Finance, Budget and National Planning > Mrs Zainab Ahmed, Acting Director General Securities and Exchange > Commission Ms Mary Uduk and Minister of State for Industry, Trade and > Investment Mrs Mariam Katagum during the International Conference on > Nigerian Commodities Market in Abuja, Monday
LR, Chairman, House Committee on Capital Market Hun
> Babangida Ibrahim, Minister of Finance, Budget and National Planning
> Mrs Zainab Ahmed, Acting Director General Securities and Exchange
> Commission Ms Mary Uduk and Minister of State for Industry, Trade and
> Investment Mrs Mariam Katagum during the International Conference on
> Nigerian Commodities Market in Abuja, Monday
LR,  Chairman, House Committee on Capital Market Hun > Babangida Ibrahim, Minister of Finance, Budget and National Planning > Mrs Zainab Ahmed, Minister of State for Industry, Trade and Investment > Mrs Mariam Katagum  and Acting Director General Securities and > Exchange Commission Ms Mary Uduk during the International Conference > on Nigerian Commodities Market in Abuja, Monday >
LR, Chairman, House Committee on Capital Market Hun
> Babangida Ibrahim, Minister of Finance, Budget and National Planning
> Mrs Zainab Ahmed, Minister of State for Industry, Trade and Investment
> Mrs Mariam Katagum and Acting Director General Securities and
> Exchange Commission Ms Mary Uduk during the International Conference
> on Nigerian Commodities Market in Abuja, Monday
>
LR,  Chairman, House Committee on Capital Market Hun > Babangida Ibrahim, Minister of Finance, Budget and National Planning > Mrs Zainab Ahmed, Minister of State for Industry, Trade and Investment > Mrs Mariam Katagum  and Acting Director General Securities and > Exchange Commission Ms Mary Uduk during the International Conference > on Nigerian Commodities Market in Abuja, Monday >
LR, Chairman, House Committee on Capital Market Hun
> Babangida Ibrahim, Minister of Finance, Budget and National Planning
> Mrs Zainab Ahmed, Minister of State for Industry, Trade and Investment
> Mrs Mariam Katagum and Acting Director General Securities and
> Exchange Commission Ms Mary Uduk during the International Conference
> on Nigerian Commodities Market in Abuja, Monday
>
LR,  Chairman, House Committee on Capital Market Hun > Babangida Ibrahim, Minister of Finance, Budget and National Planning > Mrs Zainab Ahmed, Minister of State for Industry, Trade and Investment > Mrs Mariam Katagum  and Acting Director General Securities and > Exchange Commission Ms Mary Uduk during the International Conference > on Nigerian Commodities Market in Abuja, Monday >
LR, Chairman, House Committee on Capital Market Hun
> Babangida Ibrahim, Minister of Finance, Budget and National Planning
> Mrs Zainab Ahmed, Minister of State for Industry, Trade and Investment
> Mrs Mariam Katagum and Acting Director General Securities and
> Exchange Commission Ms Mary Uduk during the International Conference
> on Nigerian Commodities Market in Abuja, Monday
>
Investors Lost N1.87trn To COVID-19

The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria November 9, 2016. REUTERS/Afolabi Sotunde

 

The Nigeria bourse has lost N1.87 trillion to global oil price crash and increasing spread of COVID-19 in four days.

Specifically, the market capitalisation, which opened trading for the week at N13.694 trillion, shed N1.87 trillion or 13.63 per cent, having closed trading on Thursday at N11.827 trillion.

Also, the All-Share Index, which opened the week at 26, 279.61, dropped 3,583.73 points or 13.64 per cent in four days to close trading on Thursday at 22,695.88.

Malam Garba Kurfi, the Managing Director, APT Securities and Funds Ltd., attributed the development to crash in crude oil price leading to review of 2020 budget.

Kurfi added that increasing spread of COVID-19 was another source of worry to investors with the World Health Organisation describing the viral disease as pandemic.

“The market crash was as a result of the fear of devaluation by foreign investors who are willing to sale at whatever price.

“Being major players in the market, we need to manage it,” Kurfi said.

He stressed the need to review some market policies, noting that margin loan was important at the very moment to minimise loss.

An analysis of trading on Thursday shows that MTN Nigeria recorded the highest loss to lead the losers’ chart, declining by N10.30 to close at N93.20 per share.

Okomu Oil trailed with a loss of N6.10 to close at N55.30, while Presco was down by N4.45 to close at N40.45 per share.

Nigerian Breweries dipped N3.30 to close at N29.70, while Flour Mill dropped N2.20 to close at N19.80 per share.

On the other hand, only three stocks posted price appreciation and this was led by Stanbic IBTC which garnered 95k to close at N29.30 per share.

Skyways Aviation Handling Company followed with 23k to close at N2.57, while Caverton gained 21k to close at N2.31 per share.

Zenith Bank was the toast of investors in activity chart, accounting for 433.157 million shares worth N4.70 billion.

United Bank for Africa followed with an account of 371.34 million shares valued at N2.09 billion, while Guaranty Trust Bank traded 62.18 million shares worth N1.14 billion.

FBN Holdings exchanged 31.95 million shares valued at N128.21 million, while Wapic Insurance sold 20.64 million shares worth N5.79 million.

In all, investors traded 1.06 billion shares valued at N9.81 billion in 5,501 deals.

This was against a turnover of 1.39 billion shares worth N17.65 billion transacted in 7,150 deals on Wednesday. (NAN)

Photos: SEC 2020 International Women’s  Day Celebration in Abuja, Monday

L-R, Obstetrician Gynaecologist Alliance Hospitals and Services Dr Becky Adeyemi, Acting Director General SEC  Ms Mary Uduk  and Leadership and Management Consultant Dr Karmell Andzenge during 2020 International Women’s  Day Celebration in Abuja, Monday
L-R, Obstetrician Gynaecologist Alliance Hospitals
and Services Dr Becky Adeyemi, Acting Director General SEC Ms Mary
Uduk and Leadership and Management Consultant Dr Karmell Andzenge
during 2020 International Women’s Day Celebration in Abuja, Monday
L-R, Acting Executive Commissioner Corporate Services, Securities and Exchange Commission Mr Edward Okolo , Acting Executive Commissioner,  Operations, SEC  Mr Isyaku Tilde, Acting Director General SEC  Ms Mary Uduk and Acting Executive Commissioner Legal and Enforcement  SEC, Mr Reginald Karawusa during 2020 International Women’s  Day Celebration in Abuja, Monday
L-R, Acting Executive Commissioner Corporate Services,
Securities and Exchange Commission Mr Edward Okolo , Acting Executive
Commissioner, Operations, SEC Mr Isyaku Tilde, Acting Director
General SEC Ms Mary Uduk and Acting Executive Commissioner Legal and
Enforcement SEC, Mr Reginald Karawusa during 2020 International
Women’s Day Celebration in Abuja, Monday
L-R, Acting Executive Commissioner Corporate Services, Securities and Exchange Commission Mr Edward Okolo , Acting Executive Commissioner Legal and Enforcement  SEC, Mr. Reginald Karawusa  Obstetrician Gynaecologist Alliance Hospitals and Services Dr Becky Adeyemi, Acting Director General SEC  Ms Mary Uduk , Leadership and Management Consultant Dr Karmell Andzenge and  Acting Executive Commissioner,  Operations, SEC  Mr Isyaku Tilde during 2020 International Women’s  Day Celebration in Abuja, Monday
L-R, Acting Executive Commissioner Corporate
Services, Securities and Exchange Commission Mr Edward Okolo , Acting
Executive Commissioner Legal and Enforcement SEC, Mr. Reginald
Karawusa Obstetrician Gynaecologist Alliance Hospitals and Services Dr
Becky Adeyemi, Acting Director General SEC Ms Mary Uduk , Leadership
and Management Consultant Dr Karmell Andzenge and Acting Executive
Commissioner, Operations, SEC Mr Isyaku Tilde during 2020
International Women’s Day Celebration in Abuja, Monday
L-R, Acting Executive Commissioner Corporate Services, Securities and Exchange Commission Mr Edward Okolo , Acting Executive Commissioner Legal and Enforcement  SEC, Mr. Reginald Karawusa  Obstetrician Gynaecologist Alliance Hospitals and Services Dr Becky Adeyemi, Acting Director General SEC  Ms Mary Uduk , Leadership and Management Consultant Dr Karmell Andzenge and  Acting Executive Commissioner,  Operations, SEC  Mr Isyaku Tilde during 2020 International Women’s  Day Celebration in Abuja, Monday
L-R, Acting Executive Commissioner Corporate
Services, Securities and Exchange Commission Mr Edward Okolo , Acting
Executive Commissioner Legal and Enforcement SEC, Mr. Reginald
Karawusa Obstetrician Gynaecologist Alliance Hospitals and Services Dr
Becky Adeyemi, Acting Director General SEC Ms Mary Uduk , Leadership
and Management Consultant Dr Karmell Andzenge and Acting Executive
Commissioner, Operations, SEC Mr Isyaku Tilde during 2020
International Women’s Day Celebration in Abuja, Monday
L-R, Acting Executive Commissioner Corporate Services, Securities and Exchange Commission Mr Edward Okolo , Acting Executive Commissioner Legal and Enforcement  SEC, Mr. Reginald Karawusa  Obstetrician Gynaecologist Alliance Hospitals and Services Dr Becky Adeyemi, Acting Director General SEC  Ms Mary Uduk , Leadership and Management Consultant Dr Karmell Andzenge and  Acting Executive Commissioner,  Operations, SEC  Mr Isyaku Tilde during 2020 International Women’s  Day Celebration in Abuja, Monday
L-R, Acting Executive Commissioner Corporate
Services, Securities and Exchange Commission Mr Edward Okolo , Acting
Executive Commissioner Legal and Enforcement SEC, Mr. Reginald
Karawusa Obstetrician Gynaecologist Alliance Hospitals and Services Dr
Becky Adeyemi, Acting Director General SEC Ms Mary Uduk , Leadership
and Management Consultant Dr Karmell Andzenge and Acting Executive
Commissioner, Operations, SEC Mr Isyaku Tilde during 2020
International Women’s Day Celebration in Abuja, Monday
L-R, Acting Executive Commissioner Corporate Services, Securities and Exchange Commission Mr Edward Okolo , Acting Executive Commissioner Legal and Enforcement  SEC, Mr. Reginald Karawusa  Obstetrician Gynaecologist Alliance Hospitals and Services Dr Becky Adeyemi, Acting Director General SEC  Ms Mary Uduk , Leadership and Management Consultant Dr Karmell Andzenge and  Acting Executive Commissioner,  Operations, SEC  Mr Isyaku Tilde during 2020 International Women’s  Day Celebration in Abuja, Monday
L-R, Acting Executive Commissioner Corporate
Services, Securities and Exchange Commission Mr Edward Okolo , Acting
Executive Commissioner Legal and Enforcement SEC, Mr. Reginald
Karawusa Obstetrician Gynaecologist Alliance Hospitals and Services Dr
Becky Adeyemi, Acting Director General SEC Ms Mary Uduk , Leadership
and Management Consultant Dr Karmell Andzenge and Acting Executive
Commissioner, Operations, SEC Mr Isyaku Tilde during 2020
International Women’s Day Celebration in Abuja, Monday
Photos: NSE during a Court Ordered Meeting (COM) and an Extraordinary General Meeting (EGM) at the Civic Center, Lagos

 L – R shows Mr. Abubakar Balarabe Mahmoud, SAN, OON, First Vice President, The Nigerian Stock Exchange (NSE); Mr. Oscar N. Onyema, OON, Chief Executive Officer, Otunba Abimbola Ogunbanjo, President of Council, NSE; Mrs. Mojisola Adeola, Council Secretary, NSE and Aigbojie Aig-Imokhuede, CON,  Ex-Officio, NSE during a Court Ordered Meeting (COM) and an Extraordinary General Meeting (EGM) at the Civic Center, Lagos
L – R shows Mr. Abubakar Balarabe Mahmoud, SAN, OON, First Vice President, The Nigerian Stock Exchange (NSE); Mr. Oscar N. Onyema, OON, Chief Executive Officer, Otunba Abimbola Ogunbanjo, President of Council, NSE; Mrs. Mojisola Adeola, Council Secretary, NSE and Aigbojie Aig-Imokhuede, CON, Ex-Officio, NSE during a Court Ordered Meeting (COM) and an Extraordinary General Meeting (EGM) at the Civic Center, Lagos
L – R shows Mr. Oscar N. Onyema, OON, Chief Executive Officer, The Nigerian Stock Exchange (NSE); Otunba Abimbola Ogunbanjo, President of Council, NSE; Mrs. Mojisola Adeola, Council Secretary, NSE and Mr. Aigbojie Aig-Imokhuede, CON, Ex-Officio, NSE and Mrs Catherine Nwakaego Echeozo​, Second Vice President, NSE during a Court Ordered Meeting (COM) and an Extraordinary General Meeting (EGM) at the Civic Center, Lagos
L – R shows Mr. Oscar N. Onyema, OON, Chief Executive Officer, The Nigerian Stock Exchange (NSE); Otunba Abimbola Ogunbanjo, President of Council, NSE; Mrs. Mojisola Adeola, Council Secretary, NSE and Mr. Aigbojie Aig-Imokhuede, CON, Ex-Officio, NSE and Mrs Catherine Nwakaego Echeozo​, Second Vice President, NSE during a Court Ordered Meeting (COM) and an Extraordinary General Meeting (EGM) at the Civic Center, Lagos