189:, who became Director General in January 2010. In August 2010 Oteh dismissed Okereke-Onyiuke from the stock exchange. The President of the Stock Exchange, Alhaji Aliko Dangote, was also dismissed. In September 2010 it was reported that the SEC was considering converting the stock exchange to a private company rather than a mutually owned enterprise. The SEC said its actions were due to problems at the stock exchange that included "inadequate oversight...ongoing litigation, allegations of financial mismanagement, governance challenges".
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A second-tier securities market was established in 1985, and the market grew as the government followed a program of privatization of public sector enterprises. With market capitalization of N4.46 billion in 1980, by the end of 1997 the
Nigerian securities market had a market capitalization of N281.8
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caused a severe crisis among
Nigerian banks, with several forced to close. After the Central Bank had audited the banks in 2009, the SEC started legal proceedings at the Investments and Securities Tribunal against about 260 individuals and entities, alleging that they were involved in abuse such as
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instituted reforms that led to a reduction in the number of banks but a great increase in their size. This and other factors led to a surge in equity market capitalization on the NSE, peaking in March 2008 at US$ 100 billion, over 60% of which was owned by the banks. When
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insider dealing and share price manipulation. The commission also instituted various reforms including improving regulations so as to encourage development of the bond market, promoting collective investment schemes and reviewing the 2003 Corporate
Governance Code.
149:. The committee became the Security Exchange Commission in 1977, and then the Securities and Exchange Commission was chartered with SEC Decree No. 71 of 1979. The commission is now chartered by the Investments and Securities Act No 45 of 1999.
133:(NSE) is privately owned and self-regulating, but the SEC maintains surveillance over it with the mandate of ensuring orderly and equitable dealings in securities, and protecting the market against
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SEC Director
General Al-Faki resigned in April 2009 amid criticism of the SEC role in a share-manipulation scandal involving the African Petroleum stock. He was eventually replaced by
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billion. The market appeared to be operating efficiently, although it was depressed by low personal incomes in
Nigeria and political instability deterring foreign direct investment.
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The
Commission originates from the ad hoc, non-statutory Capital Issues Committee established in 1962 as an arm of the
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170:, a stockbroker, was installed Director General in 2004, many thought his appointment had been engineered by
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366:"TESTIMONY ON "THE GLOBAL FINANCIAL CRISIS AND FINANCIAL REFORM IN NIGERIA: A CAPITAL MARKET PERSPECTIVE""
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454:"FG appoints Abdul Zubair to replace Gwarzo as Ag SEC DG - Vanguard News"
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313:"THE IMPACT OF NIGERIAN STOCK EXCHANGE CRISES ON THE NIGERIAN ECONOMY"
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List of financial regulatory authorities by jurisdiction
433:"Nigeria SEC: Will Appoint New Team At NSE Early 2011"
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Government regulatory body overseeing the stock market
479:"Adeosun appoints Uduk Ag. SEC D-G - Vanguard News"
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Emomotimi Agama
Director General (2024 - till date)
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240:Abdul Zubair Acting Director General (2017 – 2018)
121:(SEC) is the main regulatory institution of the
534:The Securities and Exchange Commission, Nigeria
509:The Securities and Exchange Commission, Nigeria
371:. SECURITIES & EXCHANGE COMMISSION, NIGERIA
243:Mary Uduk Acting Director General (2017 – 2020)
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339:"Efficiency of the Nigerian Securities Market"
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249:Lamido Yuguda Director General (2020 – 2024)
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252:mairiga Katuka chairman (2024 - till date )
20:Securities and Exchange Commission, Nigeria
400:. Archived from the original on 2011-08-30
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161:During the first half of the 2000s, the
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231:Director General (January 2010 – 2015)
157:2000-2010 capital market boom and bust
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219:, Director General (2004 – May 2009)
595:Securities and exchange commissions
435:. Dow Jones News. September 3, 2010
553:Abimbola, Oluwakemi (2024-05-01).
337:Adefioye Onaolapo Akerele (1998).
237:Director General (May 2015 – 2017)
119:Securities and Exchange Commission
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364:Arunma Oteh (November 16, 2010).
555:"Agama assumes office as SEC DG"
394:"An Amazon's Disgraceful Crash"
600:Government agencies of Nigeria
528:Media, R. V. O. (2020-08-10).
503:Media, R. V. O. (2015-08-10).
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392:Tayo Odunlami (2010-08-09).
201:Chief executive (1978–1979)
127:Federal Ministry of Finance
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179:2007–2008 financial crisis
417:: CS1 maint: unfit URL (
141:Formation and early years
60:Capital Issues Commission
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92:Olufemi Lijadu, Chairman
163:Central Bank of Nigeria
147:Central Bank of Nigeria
131:Nigerian Stock Exchange
110:https://www.sec.gov.ng
585:Regulation in Nigeria
225:Chairman (2009 –2010)
199:Joseph Oladele Sanusi
319:. February 26, 2011
172:Ndi Okereke-Onyiuke
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289:"WHO WE ARE"
217:Musa Al-Faki
211:John Edozien
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168:Musa Al-Faki
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76:Headquarters
68:Jurisdiction
530:"The Board"
505:"The Board"
229:Arunma Oteh
205:John Madaki
187:Arunma Oteh
579:Categories
564:2024-09-12
539:2020-09-15
514:2020-01-15
489:2018-07-28
464:2018-07-28
439:2011-06-08
404:2011-06-08
375:2011-06-08
347:2011-06-08
323:2011-06-08
295:2011-06-08
272:References
96:Timi Agama
317:CFPE2004
260:See also
137:abuses.
123:Nigerian
193:Leaders
106:Website
71:Nigeria
44: (
129:. The
39:Formed
369:(PDF)
342:(PDF)
80:Abuja
419:link
177:The
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46:1979
42:1979
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