The Securities and Exchange Commission says it has revoked the operational licences of 84 Capital Market Operators.
This was contained in a statement issued by the commission on Saturday in Lagos.
It said the CMOs’ accounts had remained inactive in spite of the commission’s earlier notice to them to rectify their accounts.
According to the statement, the commission is empowered under Section 30 (1) and (2) of the Investment and Securities Act (ISA) 2007 to revoke inactive operational licences of any capital market operator.
The statement listed the affected firms to include IQ Venture Capital Fund Managers Limited (private equity fund manager), Allbond Investment Limited (broker/dealer), Amalgamated Capital Funds and Associated Investment Trust Limited.
Others are Ventures & Trust Limited, Vileo Capital & Asset Management Limited, Visa Investment & Securities Limited, Wizetrade Capital & Asset Management Limited and WT Securities Limited.
They also include Eazytrade Concept Limited, Elyon’s Asset Management, EMI Capital Resources Limited, Enterprise Capital Management Limitd and Equinox Asset Management Limited.
The statement said that SEC had directed the Nigerian Stock Exchange, the Chartered Institute of Stockbrokers, the Central Securities Clearing System, the investing public and all capital market trade groups to desist from dealing with them.
NAN.
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