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Five Banks Pay N1.6bn For Forex Infractions, Other Penalties
In the first half of the year, five banks in Nigeria paid a total of N1.4 billion as penalties to financial regulatory bodies such as the Central Bank of Nigeria, Security Exchange Council and Financial Reporting Council of Nigeria. The banks include UBA , Fidelity Bank, Access Bank, GTBank and First City Monument Bank. This…
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CBN, SEC To Regulate Cryptocurrency Trading In Nigeria
The Securities and Exchange Commission (SEC) has announced a collaboration with the Central Bank of Nigeria to work on regulating cryptocurrency trading in Nigeria. The Director-General, SEC, Lamido Yuguda, revealed this at the 2021 first post-Capital Market Committee (CMC) virtual news conference. He said that the commission had suspended the implementation of crypto assets guidelines due…
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SEC: AfDB Grants $400,000 for Capital Markets Development
The African Development Bank Group has authorized a $400,000 grant agreement with the Securities and Exchange Commission of Nigeria as part of an effort to strengthen securities market regulation as well as broaden market instruments. The grant, according to the bank. Would be targeted towards strengthening the risk-based supervision framework; regulation of derivatives and green…