Nigeria: Recapitalisation - SEC Gets 50 Percent Waiver On Filing Fees

Abuja — In order to smoothen the recapitalisation of operators in the capital market, the Securities and Exchange Commission (SEC) has secured from the Corporate Affairs Commission (CAC), a waiver of fifty per cent of the filling fees, payable by existing capital market operators for the purpose of attaining the newly prescribed minimum share capital.

A statement issued yesterday by the head, media, Lanre Oloyi, stated that the concession was granted following a request by the Commission to the CAC, in consideration of fees payable by existing market operators, who are in the process of complying with SEC's directive on the new minimum share capital.

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