Friday, July 1, 2022
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Business

The Nigerian Securities and Exchange Commission has issued a warning to investment platforms to stop trading ‘unregistered’ foreign securities

Tech Gist Africa by Tech Gist Africa
04/09/2021
in Business, Investments, News
0 0
0
Securities and Exchange Commission SEC Nigeria

Securities and Exchange Commission SEC Nigeria

0
SHARES
Share on FacebookShare on Twitter

The Nigerian Securities and Exchange Commission (SEC) has issued a warning to investment platforms to stop trading ‘unregistered’ foreign securities.

Investment platforms that provide access to foreign securities listed on American and Nigerian exchanges are illegal, according to a circular issued by Nigeria’s capital market regulator SEC.

These platforms, according to the circular, are trading foreign securities that are not registered in the country and have been warned to stop. Capital market operators who work with them have also been warned not to provide foreign securities brokerage services.

“The Securities and Exchange Commission (the Commission) has been notified to the existence of several online investment and trading platforms that purport to provide direct access to securities of foreign companies listed on securities exchanges registered in other jurisdictions to the investing public in the Federal Republic of Nigeria. These platforms also claim to be working in collaboration with Commission-registered Capital Market Operators (CMOs)”, the circular states.

“The Commission categorically notes that, subject to sections 67-79 of the Investments and Security Act…and Rules 414 and 415 of the SEC rules and Regulations, only foreign securities listed on any exchange registered in Nigeria may be released, sold, or offered for sale or subscription to the Nigerian Public,” according to the circular.

Fintech startups such as Bamboo, Trove, RiseVest, and Chaka have enabled Nigerians to invest in multinational corporations such as Apple, Google, Microsoft and others. Nigerians were able to own shares in these foreign companies through these trading and investment apps, which also acted as a way to diversify investment.

Read More on Tech Gist Africa:

The Central Bank Of Nigeria Bans Cryptocurrency in Nigeria

Nigeria’s largest telecommunications company has been cut off from payment platforms by Banks

 

ShareTweetShare

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

Related Posts

African Pharmaceutical Technology Foundation, African Development Bank
Healthcare

The establishment of the African Pharmaceutical Technology Foundation has been approved by the African Development Bank

by Tech Gist Africa
06/28/2022
0

The African Pharmaceutical Technology Foundation, a brand-new ground-breaking organization that will significantly improve Africa's access to the technologies that support...

Read more
FirstCheck Tech News Africa

FirstCheck Africa has received a commitment of $2 million from TLcom, bringing the total amount of its debut fund to $10 million

06/28/2022
LaVida Studios

LaVida Studios, a Nigerian film production company, secures $50 million in funding

06/28/2022
Jobop Morocco

Jobop, a Moroccan startup, has secured a $1 million seed round

06/28/2022
Zenysis Technologies

Zenysis Technologies, a big data startup, has raised $13.3 million in a series B round of funding

06/28/2022
Next Post
Uber and UberEats

Uber expands its ride-hailing service as well as its online food delivery service, In Kenya

Facebook Instagram WhatsApp

Facebook, Instagram, and WhatsApp were all down at one point, but they seem to be back up and running now

Zindi hackathon

Africa's inter-university Hackathon brings students together for the benefit of data science

No Result
View All Result

The Big 5

Venture Capital

The Pros and Cons of Venture Capital Funding

by Tech Gist Africa
06/29/2022
0

...

instagram

Instagram is trying out new ways of verifying a user’s age on its app

by Tech Gist Africa
06/28/2022
0

...

innovations

Future technological innovations that will significantly transform the world in the near future

by Tech Gist Africa
06/24/2022
0

...

microsoft internet explorer

Microsoft has officially shut down Internet Explorer

by Tech Gist Africa
06/16/2022
0

...

Launch Africa ventures

The first fund of Launch Africa Ventures, which closed at $36.3 million, has made its 100th investment

by Tech Gist Africa
06/15/2022
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.