SEC revokes licences of 84 capital market operators

The Securities and Exchange Commission (SEC) over the weekend revoked the operational licences of “84 capital market operators that are inactive”.

A statement from SEC called on the Nigerian Stock Exchange (NSE), the Chartered Institute of Stockbrokers (CIS), the Central Securities Clearing System (CSCS) Plc, capital market trade groups, the investing public and others to desist from dealing with the operators whose licences were revoked.

SEC, in its statement, said it “is empowered under Section 30 (1) and (2) of the Investment and Securities Act (ISA) 2007 to revoke the operational licence of capital market operators that are inactive.”

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