The Securities and Exchange Commission (SEC), Nigeria’s apex regulator of the capital market, has vehemently denied reports suggesting that it has not published its annual reports and accounts for several years.
The commission, in a statement released on Friday, refuted the insinuations made by certain media outlets, dismissing them as false claims.
The statement clarified that the SEC has consistently audited its financial statements every year since 2014, as required by law.
Moreover, the commission emphasized its compliance with regulations by submitting these audited reports exclusively to the relevant agencies authorized by the federal government to receive such financial disclosures.
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According to the SEC, the agencies empowered by the federal government to handle the commission’s financial accounts include the Federal Ministry of Finance, Budget and National Planning, the Office of the Auditor General of the Federation, the Fiscal Responsibility Commission, the Office of the Accountant General of the Federation, and the appropriate committees of the national assembly.
“The attention of the Securities and Exchange Commission (the commission), the apex regulator of the Nigerian capital market, has been drawn to some reports in the electronic and print media, insinuating that the commission had not audited its financial statements since 2014,” the statement reads.
“Contrary to these false claims, the commission, as a law-abiding agency, has duly audited its financial accounts year after year before and onward from 2014, and has submitted these to the relevant agencies statutorily empowered by the federal government to receive same, including the Federal Ministry of Finance, Budget and National Planning; Office of the Auditor General of the Federation; Fiscal Responsibility Commission; Office of the Accountant General of the Federation, as well as the appropriate committees of the national assembly.
“The commission, being a strong promoter of world-class corporate governance standards, hereby restates its commitment to upholding such ideals and strongly advises persons with requests for information to channel such to [us] via email to [email protected], and to which the commission would respond accordingly.
“The dissemination of factual information is critical to complementing the efforts of the federal government for the growth and development of the capital market and Nigeria’s economy.”
