Capital Market articles

Oando: Two weeks after public notice, SEC yet to commence forensic audit

Oando: Two weeks after public notice, SEC yet to commence forensic audit

Two weeks after the Securities and Exchange Commission, SEC, said it would begin forensic audit of Nigerian oil firm, Oando Plc, the audit is yet to start, PREMIUM TIMES has learnt. In a statement issued on December 5, SEC notified Nigerians that the forensic audit of the company would begin the next day. But on

BREAKING: Adeosun Suspends SEC DG, Two Others

Minister of Finance, Mrs Kemi Adeosun, has suspended the Director-General of the Securities and Exchange Commission (SEC), Mr Mounir  Gwarzo. Gwarzo is suspended in order to allow for an unhindered investigation of several allegations of financial impropriety leveled against him. This was contained in a statement signed by Deputy Director, Press, Federal Ministry of Finance, Patricia Deworitshe

Equities lose N144b as investors await CBN decisions

Investors scrambled to realign their portfolios and lock in profit ahead of the meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN). A midweek selling spree left the equities market with a net capital depreciation of N143.9 billion last week as investors anxiously await the decisions of the MPC. The

SEC to begin capital market curriculum in schools

The Securities and Exchange Commission said it would begin capital market curriculum in primary and secondary schools in September 2018. The Director-General of SEC, Mr Mounir Gwarzo, disclosed this at the World Savings Day celebration on Tuesday in Abuja. The theme of the event is “Promoting Awareness on the Importance of Saving”. The event was

SEC boss, Gwarzo, in N104m severance package controversy

Mounir Gwarzo, director-general of the Securities and Exchange Commission (SEC), allegedly got a severance package of N104 million from the Commission shortly after he assumed office in 2015.   However, the spokesman of the Commission, Naif Habu Abdulssalam, said ‘the Commission follows laid down rules and regulations in all its activities’.   Recall that Gwarzo

Oando in Bullish Trend, Posts N3.5b Profit

Oando Plc,  Nigeria’s largest indigenous energy group, recorded N3.5billion Profit After Tax (PAT) in its full year operation, ended 31 december, 2016. This was achived despite thecountry’s economic recession, continued volatility in global oil prices, reduced oil exports, suspension of projects and cuts to capital spending. The company successfully manoeuvred the cyclical nature of the