Business
SEC to revoke licences of 94 firms
Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC), has started a process that might lead to revocation of licences of at least 94 capital market firms as capital market regulators seek to weed out inactive and poorly capitalised firms.
SEC yesterday issued a pre-notice on cancellation of certificates of registration of 94 inactive capital market operators.
The Commission stated that the capital market firms “have consistently failed to render their statutory returns to the Commission and may have been unable to comply with the new minimum capital requirements before the deadline stipulated by the Commission which expired on 30th September, 2015”.
SEC directed the 94 firms to make presentations to it on or before December 4, 2015 to give reasons why “their registration as capital market operators should not be cancelled”. The firms are expected to send detailed presentations in both hard and soft copies to the Commission.
Read also: SEC okays 972 firms for capital market operations (See list)
A source close to the Commission said the pre-notice was just a regulatory process noting that the dormant companies would be delisted from the register of operators citing their long period of inactivity and lack of credible evidence that they have new minimum capital base.
In what alluded to the source’s position, SEC titled the list attached to the pre-notice in more affirmative stand. The list was titled “list of inactive capital market operators that did not comply with the new minimum capital requirement”.
Find below the full list of the capital market firms, their registered functions and current operational status
S/N Firm Function Remark
- 2AS AMAO CONSULT Individual Sub-broker Inactive
- AIQ VENTURE CAPITAL FUND MANAGERS LTD Private Equity Fund Manager Inactive
- ALLBOND INVESTMENT LIMITED Broker/Dealer Inactive
- AMALGAMATED CAPITAL FUNDS LTD Venture Capital Manager Inactive
- ASSOCIATED INVESTMENT TRUST CO. LIMITED Fund/Portfolio Manager Inactive/On Suspension
- BAYHEAD ALPHA CAPITAL LTD Fund/Portfolio Manager Inactive
- BLUEBIRD CAPITAL LTD Issuing House Inactive
- BOSTON CAPITAL INVESTMENTS LIMITED Corporate Sub-Broker Inactive
- BRICKFIELD ROAD ASSOCIATES LTD Rating Agency Inactive
- CAPITAL PARTNERS LIMITED Corporate Investment Adviser, Fund/Portfolio Manager Inactive
- CAPITAL STRUCTURES LTD Portfolio Manager, Corporate Investment Adviser Inactive
- CIRCULAR TRUST LTD Portfolio Manager Inactive/On Suspension
- CITI ASSET MGT LTD Fund/Portfolio Manager Inactive
- CITIZENS INV. & SEC. LTD. Venture Capital Manager Inactive
- CITY INVESTMENT MANAGEMENT. LTD Broker/Dealer Inactive
- CONSOLIDATED INVESTMENT LIMITED Broker/Dealer Inactive
- CONSULT & CAPITAL LIMITED Fund Manager Inactive
- DAKAL SERVICES LIMITED Broker/Dealer Inactive
- DEAP CAPITAL MANAGEMENT & TRUST PLC.Fund/Portfolio Manager, Issuing House Inactive/On Suspension
- DE-CANON INVESTMENT LIMITED Broker/Dealer Inactive/On Suspension
- DEVELOPMENT BUSINESS CO. Fund/Portfolio Manager Inactive
- DOLBIC FINANCE LIMITED Corporate Investment Adviser, Portfolio Manager, Broker/Dealer Inactive/On Suspension
- DVCF OIL & GAS PLC Venture Capital and Fund Manager Inactive
- DYNAMIC TRUST & SECURITIES LTD Fund/Portfolio Manager Inactive/On Suspension
- EAZYTRADE CONCEPT LTD. Portfolio Manager Inactive
- ELYON’S ASSET MANAGEMENT LTD Fund Manager Inactive/On Suspension
- EMI CAPITAL RESOURCES LTD Broker/Dealer Inactive
- ENTERPRISE CAPITAL MGT. LTD. Venture Capital Manager Inactive
- EQUINOX ASSET MANAGEMENT LIMITED Corporate Investment Adviser, Portfolio Manager Inactive
- EXPRESS DISCOUNT LIMITED Fund/Portfolio Manager, Corporate Investment Adviser Inactive
- FB ASSET MGT. LIMITED Portfolio Manager, Corporate Investment Adviser Inactive
- FIRST ALSTATE SECURITIES LIMITED Broker/Dealer Inactive/On Suspension
- FIRST MARINA TRUST LIMITED Broker/Dealer Inactive/On Suspension
- FITTCO SECURITIES LIMITED Broker/Dealer Inactive
- FLOODGATE FINANCE & SEC. LIMITED Corporate Sub-Broker Inactive
- G. AKOMAS & PARTNERS Fund/Portfolio Manager Inactive
- GLOBAL CAPITAL MARKET LTD. Issuing House Inactive
- GLOBAL INV. & SEC. LTD. Broker/Dealer Inactive/On Suspension
- GOMBE SECURITIES LIMITED Broker/Dealer Inactive
- HABITAT TRUST LTD Fund Manager Inactive
- HAZONWAO ASSETS MANAGEMENT LTD Fund Manager Inactive
- HONEY COMB ASSET MGT. LTD. Fund/Portfolio Manager Inactive
- INDEMNITY FINANCE LIMITED Broker/Dealer Inactive/On Suspension
- INTEGRATED CAPITAL SERVICES LTD Issuing House Inactive
- INVESTMENT MONITORS LTD Corporate Sub-Broker Inactive
- JUBILEE GLOBAL FUND PLC Fund Manager Inactive
- KENDALL SECURITIES LIMITED Broker/Dealer Inactive
- KINGSWAY SECURITIES LIMITED Corporate Sub-Broker Inactive
- KOLTRON LTD Fund Manager Inactive
- LOMBARD ASSET MGT. LIMITED Fund/Portfolio Manager Inactive
- LYNAC SECURITIES LIMITED Broker/Dealer Inactive/On Suspension
- MALACHAI FUNDS & ASSETS MGT. LTD Fund/Portfolio Manager Inactive
- MANINVEST ASSET MANAGEMENT PLC Broker/Dealer Inactive
- METROPOLITAN TRUST NIGERIA LIMITED Broker/Dealer Inactive
- NCDF INVESTMENT LIMITED Venture Capital Manager Inactive
- N-CHEQUE SECURITIES LTD Portfolio Manager Inactive
- NICHE SECURITIES LIMITED Broker/Dealer Inactive/On Suspension
- NICON Trustee LTD Corporate Investment Adviser, Registrar, Trustee, Fund/Portfolio Manager Inactive
- NMA INVESTMENT & SECURITIES LTD Portfolio Manager Inactive
- NOBLE FINANCIAL TRUST LTD. Fund/Portfolio Manager, Corporate Investment Adviser Inactive
- NOUVEAU DELICE INTERNATIONAL Venture Capital Manager Inactive
- NOVARE INVESTMENTS LTD Fund/Portfolio Manager Inactive
- OCEANIC TRUSTEE LTD Trustee Inactive/Undergoing Liquidation
- OMAS INVESTMENT & TRUST COMPANY LIMITED Broker/Dealer Inactive/On Suspension
- OMNISOURCE INTERNATIONAL LTD. Broker/Dealer, Corporate Investment Adviser, Portfolio Manager Inactive/On Suspension
- PAN SECURITIES LIMITED Portfolio Manager, Issuing House Inactive
- PEACH & PRIME LTD. Portfolio Manager Inactive
- PEAK SECURITIES LIMITED Broker/Dealer Inactive/On Suspension
- PENINSULA ASSET MANAGEMENT & INVESTMENT COMPANY LIMITED Broker/Dealer Inactive
- PHB ASSET MANAGEMENT Fund/Portfolio Manager Inactive/Under Liquidation
- PLATINUM CAPITAL LIMITED Issuing House, Broker/Dealer, Fund/Portfolio Manager Inactive
- PRUDENTIAL SECURITIES LIMITED Broker/Dealer Inactive
- PRUDENTIAL TRUST CO. LTD. Issuing House Inactive
- REAL LAAM Individual Sub-broker Inactive
- SEASONS TRUST & INVESTMENT LTD Portfolio Manager Inactive
- SECURITIES SOLUTIONS LIMITED Broker/Dealer Inactive
- SECURITIES TRADING & INVESTMENTS LIMITED Broker/Dealer Inactive
- SKYLIMIT INVESTMENT LTD Corporate Sub-Broker Inactive
- SLAMAD SECURITIES LTD Corporate Sub-Broker Inactive
- STACOPRIME CAPITAL LTD Corporate Sub-Broker Inactive
- STOCK INVESTMENT SEC. LTD. Corporate Investment Adviser, Fund Manager Inactive
- SYNERGY INV. & SEC. LIMITED Registrars,Trustee, Corporate Investment Adviser, Fund/Portfolio Manager Inactive
- TARICOL INVESTMENT LTD Fund/Portfolio Manager Inactive
- TREASURELINE INTERLINK LTD Fund Manager Inactive
- TRUEVINE GLOBAL ASSET MGT. LIMITED Corporate Investment Adviser, Portfolio Manager Inactive
- UNIC INSURANCE PLC Underwriter, Corporate Investment Adviser, Fund/portfolio Manager Inactive/No information to confirm their Shareholders fund
- UTB TRUSTEE LIMITED Trustee Inactive
- VENTURES & TRUST LIMITED Corporate Investment Adviser, Fund Manager Inactive
- VILEO CAPITAL & ASSET MGT. LTD Fund/Portfolio Manager Inactive
- VISA INVESTMENTS & SEC. LTD Portfolio Manager Inactive
- WEST AFRICAN INFRASTRUCTURE INVESTMENTS MANAGERS LTD Fund Manager Inactive
- WIZETRADE CAPITAL & ASSET MANAGEMENT LIMITED Broker/Dealer Inactive/On Suspension
- WT SECURITIES LIMITED Broker/Dealer Inactive
- ZUMA SECURITIES LIMITED Broker/Dealer Inactive/On Suspension
RipplesNigeria …without borders, without fears
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: In Kwara, multimillion-naira milk processing plant is abandoned, converted to a chicken outlet
After the government spent millions of naira to establish a milk processing plant in Kwara State that would provided jobs...
SPECIAL REPORT: For Sokoto communities, promise of healthcare is akin to death sentence
In this story, ABDULRASHEED HAMMAD delves into the dire realities of Primary Health Care services in Sokoto State, shedding light...
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
SPECIAL REPORT: Torturous experiences of students with disabilities in Oyo tertiary institutions
For students with disabilities in Oyo state-owned tertiary institutions, learning is a torturous and distressing experience, considering the building structures...