SEC: Capital market critical to economic growth

The Nigerian capital market has been described as critical to the attainment of economic growth and development of the nation. This was stated by Acting Director General of the Securities and Exchange Commission, SEC, Ms. Mary Uduk, during a visit to media houses in Lagos, Tuesday. Uduk, who was represented by Head, External Relations Department, Mr. Sufian ABDUL KARIM, said the capital market could assist the nation in its infrastructural development while also creating wealth for Nigerians. According to Uduk, SEC is stepping up regulation to ensure that Nigerians are…

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Uduk named fellow as 230 others emerge brokers

The  Chartered Institute of Stockbrokers (CIS), at the weekend, named the Acting Director General, Securities and Exchange Commission (SEC), Ms Mary Uduk and CIS’ Registrar and Chief Executive Mr Adedeji Ajayi,  as fellows while 230 newly qualified stockbrokers, the single largest in the Institute’s history were inducted as associate members. Besides, the Managing Director, Central Securities Clearing System Plc, Mr Jalo Waziri, General Manager, The  Nigerian Stock Exchange, Mr Bola Adeeko, 15 university professors, other lecturers and some  top civil servants made the list of latest securities dealers in Nigeria…

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SEC: FMDQ brought competition into capital market

The Securities and Exchange Commission (SEC) has said that the emergence of FMDQ Securities Exchange brought healthy competition into the capital market. Acting Director General of SEC, Ms. Mary Uduk, who stated this at the Gold Awards and Dinner organised by FMDQ in Lagos, said FMDQ had increased the tempo of activities in capital market. “They have created more activities in the market. A lot of areas that seemed dormant before now like the bond market have seen a lot of activities because of the active trading on FMDQ platform.…

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SEC, FCCPCC pledge collaboration on mergers

The Securities and Exchange Commission [SEC] and the Federal Competition and Consumer Protection Commission (FCCPCC) have agreed to work together in a bid to simplify the processes of mergers of companies in Nigeria. This was disclosed by the Acting Director General of SEC, Ms. Mary Uduk, during the signing of a  memorandum of understanding between SEC and FCCPCC in Abuja. Uduk expressed  the need for both organisations to work together to ensure that there is no vacuum  in a bid to ensuring that the collaboration would lead to a stronger…

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‘SEC committed to addressing issues of multiple accounts’

The Securities and Exchange Commission, (SEC) has said that it will continue to collaborate with relevant stakeholders to sensitise investors on the need to regularise their multiple accounts as well as claim their dividends. Uduk who spoke during in Abuja, said the Commission has taken various steps to ensure that shareholders benefit from their their investments in the capital Market. She said the volume of unclaimed dividend is still huge but the commission is doing a lot to bring it down. According to her, “Only recently, in our determination to…

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