Securities and Exchange Commission, SEC, Nigeria has revoked the operational licenses of 84 capital market operators for being inactive.
A press statement issued by the SEC over the weekend in Abuja said “The Securities and Exchange Commission is empowered under section 30 (1) and (2) of the Investment and Securities Act, ISA, 2007 to revoke the operational license of capital market operators that are inactive.
“Consequent upon the above, the general public is hereby notified that the registration of the under listed Capital Market Operators, CMOs, have been revoked .”
The statement directed “The Nigerian Stock Exchange, NSE, the Chartered Institute of Stockbrokers, CIS, the Central Securities Clearing System, CSCS, Plc, all Capital Market Trade Groups, the investing public and all stakeholders to desist from dealing with them.”
Some of the capital market operators whose licenses were revoked are: AIQ Venture Capital Fund Managers Ltd, a private equity fund manager; Allbond Investment limited, a Broker/Dealer; Amalgamated Capital Funds Ltd, a Venture Capital Manager; Associated Investment Trust Co. Limited, a Fund/Portfolio Manager; Bayhead Alpha Capital Ltd, a Fund/Portfolio Manager; Bluebird Capital Ltd, an Issuing House; Boston Capital Investments Limited, a Corporate Sub-Broker; Brickfield Road Associates Ltd, a Rating Agency; Capital Partners Limited, a Corporate Investment Adviser, Fund/Portfolio Manager and Capital Structures Ltd, a Portfolio Manager, Corporate Investment Adviser.
Others include: Circular Trust Ltd, a Portfolio Manager; Citi Asset Mgt Ltd, a Fund/Portfolio Manager; Citizens Inv. & Sec. Ltd, a Venture Capital Manager; City Investment Management. Ltd, a Broker/Dealer; Consolidated Investment Limited, a Broker/Dealer; Consult & Capital Limited, a Fund Manager; Dakal Services Limited, a Broker/Dealer; De-Canon Investment Limited, a Broker/Dealer; Development Business Co, a Fund/Portfolio Manager and Dolbic Finance Limited, a Corporate Investment Adviser, Portfolio Manager, Broker/Dealer.
Some of the affected capital market operators are: DVCF Oil & Gas Plc, a Venture Capital and Fund Manager; Dynamic Trust & Securities Ltd, Fund/Portfolio Manager; Eazytrade Concept Ltd, a Portfolio Manager; Elyon’s Asset Management Ltd, a Fund Manager; EMI Capital Resources Ltd, a Broker/Dealer; Enterprise Capital Mgt. Ltd, a Venture Capital Manager; Equinox Asset Management Limited, Corporate Investment Adviser, Portfolio Manager; Express Discount Limited, a Fund/Portfolio Manager, Corporate Investment Adviser; FB Asset Mgt. Limited, Portfolio Manager, Corporate Investment Adviser ; First Marina Trust Limited, a Broker/Dealer, etc.

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