Nigeria’s Securities and Exchange Commission (SEC) says it has revoked the operational licences of 84 Capital Market Operators (CMOs).
This is contained in a statement issued by the commission on Saturday in Lagos.
It said that 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.
