Nigeria: SEC May Begin Sanctioning Firms for Non-Registration of Shares

30 June 2014

Strong indications emerged last Friday that the Securities and Exchange Commission (SEC) will begin to sanction public companies yet to register their shares as the deadline given to them expires today.

The capital market apex regulator had last February asked all public companies yet to register their shares to do so before June 30, 2014 or be sanctioned. Public companies, according to the Companies and Allied Matters Act, 1990, are firms that have more than 50 shareholders.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.