The Securities Exchange Commission (SEC) has said it will deregister inactive operators in the capital market.
To this end, the apex regulator of the Nigerian capital market has given a prior-notice on the cancellation/withdrawal of certificates of registration of the inactive capital market operators.
In a circular, SEC said that it listed the 157 Capital Market Operators (CMOs) for various functions in the Nigerian capital market.
It noted that the operators have consistently “failed to render their statutory returns to the Commission, had their capital eroded, while others were affected by policy changes. “As a result of this, the Commission hereby requests the affected CMOs to make presentations to the Commission, on or before 13th November 2020, giving reasons why their registration should not be cancelled.”