By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: SEC to Publicly Name and Shame Capital Market Offenders in New Compliance Drive
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

SEC to Publicly Name and Shame Capital Market Offenders in New Compliance Drive

Genesis Obong
By Genesis Obong
Published: March 17, 2025
Share
5 Min Read
Director General of the Security and Exchange Commission (SEC), Dr Emomotimi Agama
Director General of the Security and Exchange Commission (SEC), Dr Emomotimi Agama
SHARE

The Securities and Exchange Commission (SEC) has announced a new stringent enforcement strategy that includes publicly naming and shaming capital market operators found guilty of violating market laws and regulations. This initiative, communicated via the SEC’s official Instagram page on Sunday, aims to enhance compliance and maintain the sanctity of the Nigerian financial ecosystem.

This “name and shame” approach will be executed through a dedicated journal and will complement existing sanctions and penalties outlined in the Investments and Securities Act 2007 and the SEC Rules and Regulations. The commission emphasized that this measure underscores its unwavering commitment to safeguarding the integrity and stability of the Nigerian capital market, protecting investors, and ensuring strict adherence to established rules and regulations.

“This enforcement strategy underscores the commission’s dedication to safeguarding the integrity and stability of the Nigerian capital market, protecting investors, and ensuring strict adherence to established rules and regulations,” the SEC stated, reinforcing its commitment to a zero-tolerance policy for market infractions.

This announcement follows recent actions by the SEC, including the revocation of Mainland Trust Limited’s registration as a capital market operator and the suspension of Centurion Registrars Limited, both due to non-compliance with regulatory directives and unresolved complaints. These actions signal a heightened regulatory scrutiny and a firm stance against market misconduct.

- Advertisement -

In a circular issued recently, the SEC officially announced the cancellation of Mainland Trust Limited’s registration, citing the company’s failure to adhere to regulatory directives and address numerous complaints. The commission has advised clients of Mainland Trust Limited to liaise with the Central Securities Clearing System Plc for guidance on transferring their stock portfolios. Additionally, the SEC has directed key market stakeholders, including the Nigerian Exchange Group and relevant professional institutes, to cease all capital market dealings with the company.

Similarly, Centurion Registrars Limited, along with its directors and sponsored individuals, has been suspended from all capital market activities. The SEC has instructed Centurion Registrars’ clients to contact Africa Prudential Plc for assistance with portfolio transfers and has mandated market institutions and trade associations to discontinue dealings with the company and its key officers.

Read Also: SEC Cracks Down: Revokes Mainland Trust, Suspends Centurion

The introduction of the “name and shame” journal adds a new layer of deterrence to the SEC’s enforcement arsenal. By publicly identifying offenders, the commission aims to create a culture of accountability and transparency within the capital market. This approach not only penalizes wrongdoing but also serves as a warning to other operators, reinforcing the importance of compliance.

- Advertisement -

As a news writer with a keen interest in financial markets, I see this as a significant step towards bolstering investor confidence and ensuring a level playing field for all market participants. The emotional appeal here lies in the protection of investors, particularly those who may be vulnerable to unscrupulous practices. By publicly shaming offenders, the SEC is sending a clear message that it prioritizes the interests of the investing public.

However, the effectiveness of this strategy will depend on consistent application and the transparency of the process. It is crucial that the SEC ensures due process and that the publication of names is based on thorough investigations and fair hearings.

The SEC’s recent actions and the announcement of the “name and shame” initiative are part of a broader effort to strengthen the Nigerian capital market. As previously stated by the commission, there is a commitment to intensifying efforts against Ponzi and pyramid schemes in 2025, alongside developing Nigeria’s commodities market.

This renewed focus on enforcement and investor protection is a welcome development. A robust and trustworthy capital market is essential for economic growth, attracting investment, and ensuring financial stability. By holding operators accountable and publicly highlighting violations, the SEC is taking a proactive stance to safeguard the integrity of the market and protect the interests of investors. This initiative has the potential to foster a more ethical and compliant environment, ultimately benefiting the entire Nigerian financial landscape and the individuals who participate in it.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:Capital MarketComplianceEnforcementFinancial IntegrityInvestor ProtectionRegulationsSEC
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByGenesis Obong
Follow:
Genesis Obong is a Journalist with relevant experience in Business, Finance and Economic matters in Nigeria and across the West African space.
Previous Article AMCON Debt Recovery AMCON Recovers Over N2 Trillion, Battles Debtors Owing Nearly N5 Trillion
Next Article Modular Refineries Modular Refineries Await Crucial Crude Oil Supply Amidst NNPC’s Focus on Larger Operations

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 4 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Tinubu Urged by PDP to Cut Fuel and Electricity Costs Amid Eid-el-Kabir Festivities
News
Mike Ejeagha
Mike Ejeagha, Nigerian Highlife Maestro, Dies at 95
News
Tinubu Welcomes Gov Eno to APC as Political Realignments Intensify Across States
Politics Top stories
Super Eagles Rally to Draw Against Russia in International Friendly
Sport
Manchester United Raises Annual Core Profit Forecast to Between £180m and £190m After Europa League Boost
Sport
- Advertisement -
Ad imageAd image

You May Also Like

Ange Postecoglou
Sport

Tottenham Hotspur Part Ways with Ange Postecoglou Despite Europa League Glory

Yusuf Abubakar
Yusuf Abubakar
June 6, 2025
News

Dangote Names Main Refinery Access Road “Bola Ahmed Tinubu Road” in Honor of President

Muhammad A. Aliyu
Muhammad A. Aliyu
June 6, 2025
L-R: Ify Okoye, Digital Creator; Linda Ejiofor-Suleiman, Actress; Stella Erebor, Head Internal Audit, Nigerian Communications Commission; Emanuella Samuel, Comedienne/Actress, Sylvia Musalagani, Safety Policy Manager, Africa, Middle East & Turkey (AMET), Meta, and Nicole Chikwe, founder of The Mummy Summit, during the launch of Instagram teen accounts in Lagos on Wednesday, June 4, 2025
Tech

Meta Launches Teen Accounts on Instagram in Nigeria to Enhance Online Safety for Young Users

Farouk Mohammed
Farouk Mohammed
June 6, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?