The Securities and Exchange Commission (SEC) has announced the immediate revocation of the operational licenses of 84 capital market operators (CMOs), as part of efforts to sanitise the market.
The commission stated in a statement on Sunday in Abuja that the licenses of the affected operators were found to be inactive and therefore consequently withdrawn in line with the provisions of Section 30 (1) and (2) of the Investment and Securities Act (ISA) 2007.
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The statement read: “The Nigerian Stock Exchange (NSE), the Chartered Institute of Stockbrokers (CIS), the Central Securities Clearing System (CSCS) Plc, all Capital Market Trade Groups, the investing public and all stakeholders are hereby directed to desist from dealing with them.”