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SEC okays 384 capital market operators as recapitalisation ends (See full list)

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In from Success Allantee …
Securities and Exchange Commission (SEC) has said a total of 384 capital market operators have fully complied with the new minimum capital requirements for their functions by the close of business on Tuesday September 29, on the eve of the September 30, 2015 deadline for the new minimum capital base.
Also, 48 other firms were undergoing the process of either merger, reclassification or reduction of their functions.
The update, released late Tuesday indicated that most capital market operators including stockbrokers, law firms, auditors, registrars, receiving banks, investment advisers and trustees among others have met the new minimum capital requirements.
SEC was silent on the total number of capital market operators and the list of operators that have not met the required capital for their functions. A SEC source in the know told Ripples that more than 120 operators might lose their licences.
Among the operators are Access Bank, Africa Prudential Registrars, Afrinvest West Africa Group, Akintola Williams Deloitte, APT Securities And Funds, Capital Bancorp, Chapel Hill Denham Management Group, Citi Bank Nigeria, Diamond Bank, Ecobank Nigeria, FBN Capital, FCMB, Fidelity Bank, First Bank of Nigeria, Flobal Trust, FSDH Group, Guaranty Trust Bank, Heritage Bank, JAIZ Bank, Lotus Capital, Phillips Consulting Ltd, Pricewaterhouse Coopers, Rand Merchant Bank Nigeria, Skye Bank, Stanbic IBTC Group, Standard Chartered Bank, Sterling Bank, Trust Yields Securities, United Bank for Africa, Union Bank of Nigeria, United Capital Group, Unity Bank, Vetiva Capital Management Group, Wema Bank and Zenith Bank Plc.
Others include GTI Capital Limited, issuing house; GTI Securities, broker/dealer; Capital Assets, broker/dealer, issuing house and fund/portfolio manager; Cowry Asset Management Limited, venture capital manager, corporate investment adviser and issuing house and Cowry Securities Limited, broker/dealer function, Meristem Registrars, Meristem Securities, Meristem Stockbrokers, Meristem Trustee and Meristem Wealth Management Limited.
Operators that were in the process of merger included Bytofel Trust And Investment Ltd, Covenant Securities & Asset Management Ltd, Cradle Trust Finance & Securities Ltd, Crown Capital Ltd, Dsu Brokerage Services Ltd, Enterprise Stockbrokers Plc, Excel Securities Ltd, First Stockbrokers Ltd, PML Securities Ltd, Summa Guaranty & Trust Company Ltd, Vision Trust & Investment Ltd and Strand Capital Partners Ltd.
Operators that were processing reclassification and reduction of functions included Alangrange Securities Ltd, Standard Alliance Capital & Asset Management Ltd, Anchorage Securities And Finance Ltd, BGL Securities Limited, BOAZ Management & Fin. Strategies Ltd, Camry Securities Ltd, Century Securities Limited, Citi Investment Capital Limited, Clearview Investments Co. Ltd, DBSL Securities Ltd, Express Portfolio Services Ltd, First Alstate Securities Limited, FIS Securities Ltd, Flourish Securities Investment & Trust Limited, G.G Securities & Investment Ltd, Investment Centre Ltd, Investment Shark & Asset Management Ltd, Lb Securities Limited, Mainland Trust Ltd, Marriot Securities & Investment Co, Mayfield Investments Ltd, Mission Securities Ltd, Mountain Investment And Securities Ltd, Northbridge Investment & Trust Limited, Professional Stockbrokers Limited, Redasel Investment Ltd, Regency Financing Limited, Shalom Investment Financial Services Ltd, Stronghold Investment Ltd, Surport Services Limited, TFS Securities & Investment Company Ltd, TransAfrica Financial Services Ltd, Transworld Investment & Securities Ltd, UIDC Securities Ltd, Yuderb Investment & Securities Ltd and Woodland Capital Market Plc.
SEC had in December 2013 announced major increases in minimum capital requirements for capital market functions under a new minimum capital structure that was initially scheduled to take off by January 1, 2015. It however extended the deadline to September 30, 2015.

Read also: 70 stockbroking firms risk SEC hammer

Minimum capital base for broker and dealer was increased by 329 per cent from the existing N70 million to N300 million. Broker, which currently operates with capital base of N40 million, will now be required to have N200 million, representing an increase of 400 per cent. Minimum capital base for dealer increased by 233 per cent from N30 million to N100 million.
Also, issuing houses, which facilitate new issues in the primary market, will now be required to have minimum capital base of N200 million as against the current capital base of N150 million. The capital requirement for underwriter also doubled from N100 million to N200 million. Trustees, rating agencies and portfolio and fund managers had their minimum capital base increased by 650 per cent each from N40 million, N20 million and N20 million to N300 million, N150 million and N150 million respectively. A Registrar will now have a minimum capital base of N150 million as against the current requirement of N50 million. While the minimum capital base for corporate investment adviser remained unchanged at N5 million, individual investment advisers will have to increase their capital base by 300 per cent from N500,000 to N2 million.

Full list of firms that had complied on the eve of the deadline below:
S/N Company/Firm Function(s) Remark
1. 2AS AMAO CONSULT Individual Sub-Broker
2. ACCESS BANK PLC Receiving Banker, FMDQ OTC Dealer
3. ACL CAPITAL PARTNERS LTD Corporate Investment Adviser
4. ADONAI STOCKBROKERS LTD Broker/Dealer
5. AEGIS FINANCIAL SERVICES & LINKS LIMITED Corporate Investment Adviser
6. AFRIBANK SECURITIES LTD Broker/Dealer On Suspension
7. AFRICA PRUDENTIAL REGISTRARS LTD Registrars
8. AFRICAN ALLIANCE STOCKBROKERS LTD Broker/Dealer
9. AFRINVEST ASSET MANAGEMENT LTD Fund Manager
10. AFRINVEST SECURITIES LTD Broker/Dealer
11. AFRINVEST WEST AFRICA LTD Issuing House
12. AIICO CAPITAL LTD Fund/Portfolio Manager
13. AKINTOLA WILLIAMS DELOITTE Individual Investment Adviser, Reporting Accountant
14. ALL CROWN REGISTRARS LTD Registrars
15. ALM CONSULTING (TRUSTEE) LTD Corporate Investment Adviser, Trustee
16. ALPHA MORGAN CAPITAL PARTNERS LTD Fund/Portfolio Managers
17. ALTERNATIVE CAPITAL PARTNERS LTD Fund portfolio manager & Investment Adviser
18. ALTRADE SECURITIES LTD Broker/Dealer
19. AMYN INVESTMENTS LTD Broker/Dealer
20. ANCHORIA INVESTMENT AND SECURITIES LTD Broker/Dealer
21. APEL ASSET LTD Broker/Dealer, Issuing House
22. APEL CAPITAL & TRUST LIMITED Fund Managers, Trustee, Registrar
23. APT SECURITIES AND FUNDS LTD Broker/Dealer, Issuing House
24. AQUILA ASSET MANAGEMENT LTD Fund/Portfolio Manager, Corporate Investment Adviser
25. ARGENTIL CAPITAL PARTNERS LTD Fund/Portfolio Manager, Corporate Investment Adviser
26. ARM CAPITAL PARTNERS LTD Private Equity Fund Manager
27. ARM HARITH INFRASTRUCTURE INVESTMENT LTD Fund/Portfolio Managers (INFRASTRUCTURE FUND)
28. ARM SECURITIES LTD Broker/Dealer, Issuing House
29. ARM TRUSTEE LIMITED Trustee
30. ARTHUR STEVEN ASSET MANAGEMENT LTD Broker/Dealer
31. ASSET & RESOURCE MANAGEMENT CO. LTD Investment Advisers, Fund/Portfolio Manager, Issuing House
32. ASSOCIATED ASSET MANAGERS LTD Broker/Dealer, Portfolio Manager, Corporate Investment Adviser
33. ASSOCIATED DISCOUNT HOUSE LTD Fund/Portfolio Manager, Corporate Investment Adviser
34. ATLASS PORTFOLIOS LTD Broker
35. B&B WEALTH MANAGEMENT LTD Portfolio Manager
36. BAUCHI INVESTMENT CORPORATION SECURITIES LTD Broker/Dealer
37. BELFRY INVESTMENTS AND SECURITIES LTD Broker/Dealer
38. BENDU PETER SER. NIG. LTD Corporate Investment Adviser Inactive
39. BESTLINK INVESTMENT LTD Broker/Dealer
40. BESTWORTH ASSET AND TRUST LTD Broker/Dealer
41. BGL CAPITAL LTD Issuing House, Corporate Investment Adviser On Suspension
42. BLUESEA CAPITAL LTD Corporate Investment Adviser
43. BOSTON CAPITAL INVESTMENTS LIMITED Corporate Sub-Broker
44. BYSEC INVESTMENTS LTD Corporate Investment Adviser
45. CADINALSTONE REGISTRARS LTD Registrar
46. CALAG CAPITAL LTD Corporate Investment Adviser
47. CALVIN INVESTMENT LTD Corporate Investment Adviser
48. CALYX SECURITIES LTD Broker/Dealer
49. CAPITAL ASSETS LTD Broker/Dealer, Isuing House, Fund/Portfolio Manager
50. CAPITAL BANCORP PLC Broker/Dealer, Issuing House, Market Maker, Securities Lending Agent
51. CAPITAL EXPRESS SECURITIES LTD Broker/Dealer
52. CAPITAL TRUST BROKERS LTD Broker/Dealer
53. CARDINALSTONE PARTNERS LTD Issuing House, Fund/Portfolio Manager
54. CARDINALSTONE SECURITIES LTD Broker/Dealer
55. CASHCRAFT SECURITIES LTD Broker/Dealer
56. CASHVILLE INVESTMENTS & SECURITIES LTD Broker
57. CBO CAPITAL PARTNERS LTD Corporate Investment Adviser
58. CBO INVESTMENT MANAGEMENT LTD Portfolio Manager
59. CDL CAPITAL MARKETS LTD Broker/Dealer
60. CENTRE POINT INVESTMENTS LTD Broker/Dealer
61. CHAPEL HILL DENHAM MANAGEMENT LTD Corporate Investment Adviser, Fund/Portfolio Manager
62. CHAPELHILL ADVISORY PARTNERS LTD Market Maker, Issuing House
63. CHAPELHILL DENHAM SECURITIES LTD Broker/Dealer
64. CHARTWELL SECURITIES LTD Broker, Issuing House
65. CITADEL REGISTRARS LTD Registrars
66. CITI BANK NIGERIA LTD Receiving Banker, Custodian, FMDQ OTC Dealer
67. CITI GROUP GLOBAL MARKET NIG. LTD Broker/Dealer
68. CITY CODE TRUST & INVESTMENT COMPANY LTD Broker/Dealer
69. CITYGATE GLOBAL INVESTMENT LIMITED Corporate Investment Adviser
70. CO-LINK INVESTMENT & MANAGEMENT CO. LTD Corporate Investment Adviser
71. COMPASS INVESTMENT & SECURITIES LTD Broker/Dealer
72. CORDROS ASSET MANAGEMENT LTD Fund/Portfolio Manager
73. CORDROS CAPITAL LTD Broker/Dealer, Isssuing House
74. CORE TRUST AND INVESTMENT LTD Broker/Dealer, Fund/Portfolio Manager, Issuing House
75. CORONATION SECURITIES LTD Broker/Dealer
76. COURTEVILLE BUSINESS SOLUTIONS LTD Corporate Investment Adviser
77. COWRY ASSET MANAGEMENT LTD Venture Capital Manager, Corporate Investment Adviser, Issuing House
78. COWRY SECURITIES LTD Broker/Dealer
79. CSL STOCKBROKERS LTD Broker/Dealer, Fund Manager
80. CUSTODIAN TRUSTEE LIMITED Trustee
81. DAMBALE Corporate Investment Adviser Inactive
82. DATAMAX REGISTRARS LIMITED Registrar
83. DE LORDS SECURITIES LTD Broker/Dealer
84. DEEP TRUST INVESTMENT LTD Broker/Dealer
85. DFC CAPITAL LTD Corporate Investment Adviser
86. DIAMOND BANK PLC Receiving Banker
87. DIAMOND CAPITAL AND FINANCIAL MARKET LTD Market Maker, Issuing House, Fund/Portfolio Manager, Trustee, Venture Capital Manager
88. DUNBELL SECURITIES LTD Broker/Dealer
89. DUNN LOREN MERRIFIELD ADVISORY PARTNERS LTD Issuing House, Underwriter
90. DUNN LOREN MERRIFIELD SECURITIES LTD Broker/Dealer
91. DUNNLOREN MERRIFIELD ASSET MGT. & RESEARCH CO. LTD Fund/Portfolio Manager, Corporate Investment Adviser
92. DYNAMIC PORTFOLIO LTD Broker/Dealer, Issuing House
93. ECL ASSET MANAGEMENT LTD Portfolio Manager, Corporate Investment Adviser, Broker/Dealer
94. ECOBANK NIGERIA PLC Receiving Banker
95. ECZELLON CAPITAL LTD Issuing House
96. EDC FUND MANAGEMENT LTD Fund/Portfolio Manager
97. EDC REGISTRARS LTD Registrar
98. EDC SECURITIES LTD Broker/Dealer
99. EFCP LTD Broker/Dealer
100. ELIXIR ASSET MANAGEMENT LTD Fund/Portfolio Manager
101. ELIXIR SECURITIES LTD Broker/Dealer
102. EQUIBOND SECURITIES LIMITED Corporate Investment Adviser Inactive
103. EQUITY CAPITAL SOLUTIONS LTD Broker/Dealer, Issuing House
104. EUROCOMM SECURITIES LTD Broker/Dealer
105. FALCON SECURITIES LTD Broker/Dealer, Issuing House On Suspension
106. FATNET FIN. ADVISORY SERVICE Indiviual Investment Adviser
107. FBC TRUST AND SECURITIES LTD Broker/Dealer
108. FBN CAPITAL ASSET MANAGEMENT LTD Fund/Portfolio Manager
109. FBN CAPITAL LTD Issuing House, Market Maker
110. FBN FUNDS LTD Venture Capital Manager, Fund Manager, Corporate Investment Adviser
111. FBN SECURITIES LTD Broker/Dealer, Corporate Investment Adviser, Fund Manager
112. FBN TRUSTEE NIG LIMITED Trustee, Corporate Investment Adviser, Portfolio Manager
113. FCMB CAPITAL MARKETS LTD Issuing House
114. FCMB LIMITED Receiving Banker, Custodian
115. FCSL ASSET MANAGEMENT COMPANY LTD Broker/Dealer
116. FIDELITY BANK PLC Receiving Banker
117. FIDELITY FINANCE COMPANY LTD Broker/Dealer, Issuing House
118. FIDELITY SECURITIES LTD Broker/Dealer, Fund/Portfolio Manager, Issuing House
119. FINANCIAL & ANALYTICS CAPITAL LTD Broker/Dealer, Corporate Investment Adviser
120. FINANCIAL DERIVATIVES CO. LTD Issuing House, Fund/Portfolio Manager
121. FINANCIAL TRUST COMPANY NIG. LTD Broker/Dealer
122. FINMAL FINANCE SERVICES LTD Broker/Dealer, Issuing House
123. FIRST ALLY CAPITAL LTD Issuing House, Underwriter
124. FIRST BANK OF NIGERIA PLC Receiving Banker, Custodian, Securities Lending Agent, FMDQ OTC Dealer
125. FIRST CAPITAL TRUST PLC Corporate Investment Adviser, Fund/Portfolio Manager
126. FIRST CITY ASSET MGT. LTD Corporate Investment Adviser, Portfolio Manager
127. FIRST INLAND CAPITAL LTD Issuing House, Fund/Portfolio Manager
128. FIRST INTEGRATED CAPITAL MANAGEMENT LTD Broker On Suspension
129. FIRST REGISTRARS LTD Registrar
130. FIRSTCALL INVESTMENT OPTIONS LTD Corporate Investment Adviser
131. FLOBAL TRUST LTD Corporate Investment Adviser
132. FLOODGATE FINANCE & SEC. LIMITED Corporate Sub-Broker
133. FLOURMILLS REGISTRARS LTD Registrar
134. FORESIGHT PORTFOLIO SELECTION LTD Corporate Investment Adviser
135. FORESIGHT SECURITIES & INVESTMENT LTD Broker/Dealer
136. FORTE FINANCIAL LTD Broker/Dealer
137. FORTHRIGHT SECURITIES AND INVESTMENTS LTD Broker/Dealer
138. FORTRESS ASSET & INVESTMENT MANAGEMENT LTD Fund/Portfolio Manager
139. FORTRESS CAPITAL LTD Broker/Dealer
140. FRONTIER CAPITAL LTD Corporate Investment Adviser
141. FSDH ASSET MGT. LTD Fund/Portfolio Manager, Corporate Investment Adviser
142. FSDH MERCHANT BANK LTD Corporate Investment Adviser, Fund Manager, Issuing House
143. FSDH SECURITIES LTD Broker/Dealer, Issuing House
144. FUNDS MATRIX AND ASSETS MANAGEMENT LTD Broker/Dealer
145. FUTURE VIEW FINANCIAL SERVICES LTD Issuing House, Fund/Portfolio Manager
146. FUTURES & BONDS LTD Corporate Investment Adviser
147. FUTUREVIEW SECURITIES LTD Broker/Dealer, Market Maker, Securities Lending Agent
148. GIDAUNIYA INVESTMENT AND SECURITIES LTD Broker/Dealer
149. GILD ASSET MANAGEMENT LTD Corporate Investment Adviser
150. GLOBAL ASSET MANAGEMENT NIG. LTD Broker/Dealer
151. GLOBALVIEW CONSULT & INVESTMENTS LTD Broker/Dealer
152. GOLDBANC MANAGEMENT ASSOCIATES LTD Issuing House
153. GOLDEN SECURITIES LTD Broker/Dealer
154. GOSHEN ASSET INVESTMENT LTD Corporate Investment Adviser
155. GREENWICH ASSETS MANAGEMENT LTD Fund/Portfolio Manager
156. GREENWICH TRUST LTD Issuing House, Fund/Portfolio Manager, Market Maker
157. GRESHAM ASSET MGT. LTD Fund/Portfolio Manager, Corporate Investment Adviser, Corporate Sub-Broker
158. GRUEN CAPITAL LIMITED Broker/Dealer
159. GTBANK PLC Receiving Banker
160. GTI CAPITAL LTD Issuing House
161. GTI SECURITIES LTD Broker/Dealer
162. GTL REGISTRARS LTD Registrar
163. H. PIERSON ASSOCIATES LTD. Corporate Investment Adviser
164. HALO NIGERIA CAPITAL LTD Fund/Portfolio Manager
165. HARMONY SECURITIES LTD Broker/Dealer
166. HEAP INVESTMENT LTD. Corporate Investment Adviser Inactive
167. HEARTBEAT INVESTMENTS LTD Broker/Dealer
168. HEDGE & RISK LIMITED Corporate Investment Adviser
169. HEDGE SECURITIES & INVESTMENTS COMPANY LTD Broker/Dealer
170. HEPHZIBAH CAPITAL & TRUST LTD Corporate Investment Adviser
171. HERITAGE BANK LTD Receiving Banker
172. HIP ASSET MGT COMPANY LTD Corporate Investment Adviser, Fund/Portfolio Manager
173. HORIZON STOCKBROKERS LTD Broker/Dealer
174. I. C. IBE & CO. Individual Investment Adviser
175. ICAP AFRICAN BROKERS LIMITED Inter-Dealer Broker
176. ICMG SECURITIES LTD Broker/Dealer, Issuing House
177. ICON STOCKBROKERS LTD Broker/Dealer
178. IMPERIAL ASSET MANAGERS LTD Broker/Dealer
179. INDEPENDENT SECURITIES LTD Broker/Dealer, Issuing House
180. INTEGRATED TRUST & INVESTMENTS LTD Broker/Dealer, Issuing House
181. INTERNATIONAL STANDARD SECURITIES LTD Broker/Dealer, Issuing House On Suspension
182. INTERSTATE SECURITIES LTD Broker/Dealer, Issuing House
183. INVERNESS WEALTH MANAGEMENT LIMITED Corporate Investment Adviser, Fund/Portfolio Manager
184. INVESTMENT MONITORS LTD. Corporate Sub-Broker
185. INVESTMENT ONE FINANCIAL SERVICES LTD Issuing House, Fund/ Portfolio Manager, Trustee, Broker/Dealer
186. INVESTMENT ONE FUNDS MANAGEMENT LTD Broker/Dealer, Corporate Investment Adviser, Fund/Portfolio Manager
187. INVESTMENT ONE STOCKBROKERS INT’L LTD Broker/Dealer
188. INVESTORS AND TRUST COMPANY LTD Broker/Dealer
189. IWORLD FINANCIAL SERVICES LTD Issuing House
190. JAIZ BANK PLC Receiving Banker
191. JB SERVICES NIG. LTD Corporate Investment Adviser
192. JVL CAPITAL LIMITED Corporate Investment Adviser
193. KAKAWA DISCOUNT HOUSE LTD Corporate Investment Adviser, Fund Portfolio Manager, FMDQ OTC Dealer
194. KAPITAL CARE TRUST & SECURITIES LTD Broker/Dealer
195. KEDARI CAPITAL LTD Broker/Dealer, Issuing House,
Fund/Portfolio Manager
196. KELLOGS ASSETS MGT LTD Fund/Portfolio Manager
197. KEYSTONE BANK PLC Receiving Banker
198. KINGS THRONES Corporate Investment Adviser
199. KINGSWAY SECURITIES LIMITED Corporate Sub-Broker On Suspension
200. KINLEY SECURITIES LTD Broker/Dealer
201. KOFANA SECURITIES & INVESTMENT LTD Broker/Dealer
202. KORD CAPITAL LTD Corporate Investment Adviser
203. KUNDILA FINANCE SERVICES LTD Broker
204. LAMBETH TRUST AND INVESTMENT CO. LTD Broker/Dealer
205. LCM CONSULTING NIGERIA LTD. Corporate Investment Adviser
206. LEAD ASSETS MANAGEMENT LTD Fund/Portfolio Manager
207. LEAD CAPITAL LTD Fund Manager, Issuing House
208. LEAD SECURITIES & INVESTMENT LTD Broker/Dealer
209. LEADWAY CAPITAL & TRUSTS LIMITED Trustee
210. LEVERAGE & BOND SECURITIES LTD Corporate Investment Adviser
211. LIGHTHOUSE ASSETS MANAGEMENT LTD Issuing House, Broker/Dealer, Investment Adviser
212. LIGHTHOUSE REGISTRARS LTD Registrar
213. LONGTERM GLOBAL CAPITAL LTD Issuing House, Broker/Dealer
214. LOTUS CAPITAL LTD Fund Manager
215. LOTUS FINANCIAL SERVICES LTD Issuing House, Corporate Investment Adviser
216. MAGNARTIS FINANCE & INVESTMENT LTD Broker/Dealer
217. MAINSTREET BANK CAPITAL LTD Issuing House, Fund/ Portfolio Manager
218. MAINSTREET BANK LTD Receiving Banker
219. MAINSTREET REGISTRARS LTD Registrar
220. MAINSTREET TRUSTEE & ASSET MANAGEMENT CO. LTD Trustee, Portfolio Manager
221. MANSARD INVESTMENT LTD Fund/Portfolio Manager
222. MARIMPEX FINANCE & INVESTMENT CO. LTD Broker/Dealer
223. MARINA SECURITIES LIMITED Issuing House
224. MART INVESTMENTS LTD Corporate Investment Adviser
225. MAVEN ASSET MANAGEMENT LTD Broker/Dealer On Suspension
226. MAXIFUND INVESTMENTS AND SECURITIES PLC Broker/Dealer, Corporate Investment Adviser
227. MBC CAPITAL LTD Issuing House, Corporate Investment Adviser
228. MBC SECURITIES LTD Broker/Dealer
229. MBL FINANCIAL SERVICES LTD Broker/Dealer
230. MBO CAPITAL MANAGEMENT LTD Private Equity Fund Manager
231. MEGA CAPITAL FINANCIAL SERVICES LTD Fund/Portfolio Manager, Issuing House
232. MEGA EQUITIES LTD Broker/Dealer
233. MERCURY RESOURCES & INV. CO. LTD Corporate Investment Adviser
234. MERISTEM REGISTRARS LTD Registrar
235. MERISTEM SECURITIES LTD Issuing House, Broker/Dealer
236. MERISTEM STOCKBROKERS LTD Broker/Dealer
237. MERISTEM TRUSTEE LTD Trustee
238. MERISTEM WEALTH MANAGEMENT LTD Fund/Portfolio Manager
239. MICC CONSULT-MASHASHA INV. & COMMERCE CO. LIMITED Corporate Investment Adviser Inactive
240. MILESTONE CAPITAL MANAGEMENT LTD Broker/Dealer
241. MOLTEN TRUST LTD Broker
242. MORGAN CAPITAL SECURITIES LTD Broker/Dealer, Issuing House
243. MUTUAL ALLIANCE INVESTMENT & SECURITIES LTD Broker/Dealer
244. NETWORK CAPITAL LTD Broker/Dealer
245. NEWDEVCO INVESTMENT & SECURITIES CO. LTD Broker/Dealer
246. NIGERIA LIFE AND PROVIDENT COMPANY LTD Corporate Investment Adviser, Fund/Portfolio Manager
247. NIGERIAN INTERNATIONAL SECURITIES LTD Broker/Dealer
248. NIGERIAN STOCKBROKERS LTD Broker/Dealer, Issuing House, Corporate Investment Adviser
249. OCEANIC CAPITAL COMPANY LTD Corporate Investment Adviser, Issuing House, Underwriter
250. OGR INVESTMENT. & TRUST CO. LTD Corporate Investment Adviser
251. OSUNBADE, OKITI & CO. Individual Investment Adviser, Reporting Accountant Inactive
252. OZIKO CAPITAL & SECURITIES LTD Corporate Investment Adviser
253. PAC ASSET MANAGEMENT LTD Fund/Portfolio Manager
254. PAC REGISTRARS LTD Registrar
255. PAC SECURITIES LTD Broker/Dealer, Corporate Investment Adviser
256. PANAFRICAN CAPITAL PLC Issuing House
257. PARAGON INVESTMENT MANAGEMENT LTD Fund Manager
258. PARETO FUNDS & SECURITIES LTD Corporate Investment Adviser
259. PARTHIAN PARTNERS LIMITED Inter-dealer Broker
260. PARTNERSHIP SECURITIES LTD Broker/Dealer, Issuing House
261. PEACE CAPITAL MARKET LTD Broker/Dealer, Portfolio Manager, Corporate Investment Adviser
262. PERFECTA INVESTMENT TRUST LTD Broker/Dealer
263. PETROLEUM INV. MGT. LIMITED Corporate Investment Adviser Inactive
264. PHILLIPS CONSULTING LTD Corporate Investment Adviser
265. PHOENIX GLOBAL CAPITAL MARKETS LTD Issuing House, Underwriter, Investment Adviser
266. PHRONESIS SECURITIES LTD Broker/Dealer
267. PILOT SECURITIES LTD Corporate Investment Adviser, Broker/Dealer
268. PINEFIELDS INVESTMENTS SERVICES LTD Broker/Dealer
269. PIPC SECURITIES LTD Broker/Dealer
270. PIVOT TRUST & INVESTMENT COMPANY LTD Broker
271. PLANET CAPITAL LTD Issuing House
272. PORTFOLIO ADVISERS LTD Broker/Dealer Merged with LMB Securities Ltd
273. PRICEWATERHOUSE COOPERS LTD Corporate Investment Adviser
274. PRIMERA AFRICA FUND MANAGERS LTD Fund Manager, Issuing House
275. PRIMERA AFRICA SECURITIES LTD Broker/Dealer
276. PRIMEWEALTH CAPITAL LTD Broker/Dealer
277. PROFINAD NIGERIA LTD Corporate Investment Adviser
278. PROMINENT SECURITIES LTD Broker/Dealer
279. QUANTUM SECURITIES LTD Broker/Dealer
280. QUICK PROJECTS LTD Corporate Investment Adviser
281. RADIX CAPITAL PARTNERS LTD Issuing House
282. RADIX TRUSTEE LTD Trustee
283. RAINBOW SECURITIES AND INVESTMENT CO. LTD Broker/Dealer
284. RAND MERCHANT BANK NIGERIA LTD Issuing House, Underwriter, Corporate Investment Adviser
285. READINGS INVESTMENTS LTD Broker/Dealer
286. REAL LAAM ENTERPRISES Individual Sub-Broker
287. REGENCY ASSETS MANAGEMENT LTD Broker/Dealer
288. RENAISSANCE SECURITIES LTD Issuing House
289. RENCAP (SECURITIES) NIGERIA LTD Broker/Dealer
290. RESORT SECURITIES & TRUST LTD Broker/Dealer
291. REWARD INVESTMENTS & SERVICES LTD Broker/Dealer
292. RONA-CHART INVEST CO. NIG. LTD. Corporate Investment Adviser
293. ROSTRUM INVESTMENT AND SECURITIES LTD Broker/Dealer
294. ROWET CAPITAL MANAGEMENT LTD Fund/Portfolio Manager, Broker/Dealer
295. ROYAL CREST FINANCE LTD Broker/Dealer
296. ROYAL FINANCE & INVESTMENT LTD Corporate Investment Adviser, Fund/Portfolio Manager
297. ROYAL GUARANTY AND TRUST LTD Broker/Dealer
298. ROYAL TRUST SECURITIES LTD Broker/Dealer
299. SECLINK NIGERIA LIMITED Corporate Investment Adviser Inactive
300. SECURITIES AFRICA FINANCIAL LTD Broker/Dealer
301. SECURITIES AND CAPITAL MGT. COMPANY LTD Broker/Dealer
302. SECURITY SWAPS LTD Broker/Dealer
303. SFC SECURITIES LTD Broker/Dealer
304. SFS CAPITAL NIGERIA LTD Fund/Portfolio Manager
305. SFS FINANCIAL SERVICES LTD Issuing House
306. SHAQUIL INVESTMENT LTD Corporate Investment Adviser
307. SHELONG INVESTMENT LTD Broker/Dealer, Issuing House
308. SIGMA SECURITIES LTD Broker/Dealer
309. SIGNET INVESTMENTS & SECURITIES LTD Broker/Dealer
310. SILVERTHORN INV. & TRUST LTD. Corporate Investment Adviser
311. SIM CAPITAL ALLIANCE LTD Fund/Portfolio Manager
312. SKYE BANK PLC Receiving Banker
313. SKYE TRUSTEE LTD Trustee, Fund/Portfolio Manager
314. SKYLIMIT INVESTMENT LTD Corporate Sub-Broker
315. SKYVIEW CAPITAL LTD Broker/Dealer
316. SLAMAD SECURITIES LTD Corporate Sub-Broker On Suspension
317. SMADAC SECURITIES LTD Broker/Dealer, Fund Manager
318. SOLID-ROCK SECURITIES & INVESTMENT PLC Broker/Dealer
319. SPRING TRUST & SECURITIES LTD Broker/Dealer
320. SPRINGBOARD TRUST & INVESTMENT LTD Broker/Dealer
321. STACOPRIME CAPITAL LTD Corporate Sub-Broker
322. STANBIC IBTC ASSET MGT. LTD Corporate Investment Adviser, Fund/Portfolio Manager
323. STANBIC IBTC BANK PLC Receiving Banker, Custodian, Securities Lending Agent , OTC Dealer
324. STANBIC IBTC CAPITAL LTD Issuing House, Underwriter
325. STANBIC IBTC STOCKBROKERS LTD Broker/Dealer
326. STANBIC IBTC VENTURES LTD Venture Capital Manager
327. STANBICIBTC TRUSTEE LTD Trustee
328. STANDARD CHARTERED BANK LTD Custodian, Receiving Banker
329. STANDARD CHARTERED CAPITAL & ADVISORY NIG. LTD Corporate Investment Adviser, Issuing House
330. STANDARD UNION SECURITIES LTD Broker/Dealer
331. STERLING ASSET MANAGEMENT & TRUSTEE LTD Fund/Portfolio Manager, Trustee
332. STERLING BANK PLC Receiving Banker
333. STERLING CAPITAL MARKETS LTD Fund/Portfolio Manager, Issuing House
334. STERLING REGISTRARS LTD Registrar
335. STOCKCORP ASSET MANAGEMENT LTD Corporate Investment Adviser
336. STOCKHOUSE RESOURCE LTD. Corporate Investment Adviser
337. SYNERGY CAPITAL & ADVISORY LTD Corporate Investment Adviser
338. THE BRIDGE SECURITIES LTD Broker/Dealer
339. TIDDO SECURITIES LTD Broker/Dealer, Issuing House
340. TIME LINE CONSULT LIMITED Corporate Investment Adviser
341. TOPMOST SECURITIES LTD Broker
342. TOWER ASSETS MANAGEMENT LTD Broker
343. TOWER SECURITIES & INVESTMENT COMPANY LTD Broker
344. TRADELINK SECURITIES LTD Broker/Dealer
345. TRADERS TRUST AND INVESTMENT COMPANY LTD Broker/Dealer, Trustee
346. TRAVANT CAPITAL ADVISORY SERVICES LTD Corporate Investment Adviser
347. TREASURE CAPITAL & TRUST LTD Issuing House, Coporate Investment Adviser
348. TRUST YIELDS SECURITIES LTD Broker/Dealer
349. TRUSTBANC CAPITAL MANAGEMENT LTD Broker/Dealer
350. TRUSTHOUSE INVESTMENTS LTD Broker/Dealer
351. TRW STOCKBROKERS LTD Broker/Dealer
352. TYNDALE SECURITIES LTD Broker/Dealer, Corporate Investment Adviser
353. UBA PLC Receiving Banker, Custodian, Securities Lending Agent
354. UNEX CAPITAL LTD Broker/Dealer, Issuing House
355. UNICORN TRUST & INV. CO. LTD. Corporate Investment Adviser
356. UNION BANK OF NIGERIA PLC Receiving Banker, Underwriter
357. UNION CAPITAL MARKETS LTD Broker/Dealer, Issuing House, Fund/Portfolio Manager
358. UNION TRUSTEE LIMITED Trustee, Fund/Portfolio Manager
359. UNITED CAPITAL ASSET MANAGEMENT LTD Investment Adviser, Portfolio Manager
360. UNITED CAPITAL PLC Issuing House
361. UNITED CAPITAL SECURITIES LTD Broker/Dealer
362. UNITED CAPITAL TRUSTEE LTD Trustee
363. UNITED SECURITIES LTD Registrar
364. UNITY BANK PLC Receiving Banker
365. UNITY REGISTRARS LTD Registrar
366. UPS SECURITIES & INVESTMENT LTD Corporate Investment Adviser
367. VALMON SECURITIES LTD Broker/Dealer
368. VALUE CAPITAL LTD Issuing House, Market Maker
369. VALUELINE SECURITIES & INVESTMENT LTD Broker/Dealer
370. VENERATE CAPITAL LTD Corporate Investment Adviser
371. VERITAS REGISTRARS LTD Registrar
372. VETIVA CAPITAL MGT LTD Issuing House, Market Maker
373. VETIVA FUND MANAGEMENT LTD Fund/Portfolio Manager
374. VETIVA SECURITIES LTD Broker/Dealer
375. VETIVAL TRUSTEE LTD Trustee
376. W.O CAPITAL LTD orporate Investment Adviser
377. WEMA BANK PLC Receiving Banker, FMDQ OTC Dealer
378. WSTC FINANCIAL SERVICES LTD Broker/Dealer, Issuing House, Fund/Portfolio Manager
379. XCELLON CAPITAL ADVISORS LTD Corporate Investment Adviser
380. ZENITH ASSET MANAGEMENT LTD Fund/Portfolio Manager
381. ZENITH CAPITAL LTD Issuing House
382. ZENITH INTERNATIONAL BANK PLC Receiving Banker
383. ZENITH SECURITIES LTD Broker/Dealer
384. ZENITH TRUSTEE LTDTrustee

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