Browsing Tag


Nigeria Stock Exchange Record 0.19% First Gain In December

The Nigerian Stock Exchange (NSE) has made its first gain in December with the all share Index appreciating by 0.19 % on Wednesday. All-Share Index increased by 49.79 points or 0.19 % to close at 26,434.00 compared with 26,384.21 posted on Tuesday. Also, the market capitalisation which opened at N12.734 trillion rose by N24 billion or 0.19 % to close at N12.758 trillion. Consequently, the Month-to-Date and Year-to-Date losses moderated to -2.10 per cent and to -15.90% respectively. Market analysts attributed

10 Days After Barring Wale Tinubu, SEC Suspends Oando AGM

The Securities and Exchange Commission (SEC) on Monday, suspended Oando Plc from holding its 2019 Annual General Meeting slated for Tuesday till further notice. A statement on its website read “The Securities & Exchange Commission (‘the Commission’) hereby notifies the public that further to the Ex-parte Order of the Federal High Court, Ikoyi Lagos in Suit No: FHC/L/Cs/910/19 In Mr. Jubril Adewale Tinubu & Anor V Securities & Exchange Commission & Anor, the Annual General Meeting of Oando Plc (a company

Court Frees Gwarzo, Dismisses ICPC’s Suit Against Suspended SEC DG

Victory came the way of the suspended Director-General of the Security and Exchange Commission (SEC), Mounir Gwarzo, on Tuesday, as the FCT High Court dismissed a five-count charge of financial misconduct leveled against him by the Independent and Corrupt Practices and Other Related Commission (ICPC). Gwarzo was discharged and acquitted after his arraignment today by the ICPC before the court. The anti-corruption agency arraigned the embattled SEC boss alongside an Executive Commissioner in SEC, Zakawani Garuba, who

Mounir Gwarzo, Suspended D-G of SEC Will Be Vindicated

When an accused tells the court that he is making a no-case submission, then it is time to review the case. That was what the suspended Director-General of the Securities and Exchange Commission, Dr. Mounir Gwarzo told an FCT High Court Maitama last Thursday. Gwarzo was arraigned by the Independent Corrupt Practices and Other Related Offences Commission before Justice Husseini Baba-Yusuf, on five counts bordering on fraud. The evidence adduced by the prosecution to support the charge of fraud against Gwarzo is the proof…

Gwarzo Challenges Outcome Of Reps Probe Of His Suspension As SEC DG

Embattled Director-General of the Securities and Exchange Commission (SEC), Mounir Gwarzo, who was suspended on the account of alleged corruption by the Minister of Finance, has challenged the outcome of the House of Representatives public hearing on the matter. Mrs Kemi Adeosun had amongst other reasons she suspended Gwarzo, accused him of awarding contracts to companies he had interest in. Adeosun equally accused Gwarzo of violating the public service rules by remaining as a director in a private company while he was…

Oando Shareholders Call For Adeosun’s Sack

Shareholders of Oando Plc have called for the sack of Kemi Adeosun, Minister of Finance, over her alleged role in the company’s stock market saga. The shareholders in a statement on Monday accused the minister of shielding Wale Tinubu and the present management of Oando from being probed by the Securities and Exchange Commission (SEC). They said Adeosun was stalling the forensic audit of the company, and even went ahead to remove 2 SEC DGs from their positions, because they refused to stop the probe of the company.…

BREAKING: Adeosun Appoints New SEC DG

Kemi Adeosun, Minister of Finance, has appointed Mary Uduk as new acting director-general of the Securities and Exchange Commission (SEC). The appointment was contained in a statement issued by her spokesperson, Oluyinka Akintunde, on Friday, in Abuja. Ms. Uduk is to replace Abdul Zubair who was moved to the External Relations Department. The appointment also comes days after the confusion between SEC and the Nigerian Stock Exchange (NSE) over the shares of Nigerian oil giant, OANDO According to the statement,…

Buharism: The Definition Of Cluelessness

As you read this, the news has just filtered in that herdsmen just killed another 27 Nigerian citizens in Plateau State. But do not worry, the Nigerian government is dealing with the terrorist Indigenous People of Biafra AKA IPOB! I am sorry if I seem to be trivializing the deaths in Plateau State, but the situation is just ridiculous to say the least. These murderous herdsmen continue to maraud and pillage and the feeble response of President Buhari is to urge the police and security agencies to stop ‘this madness’.…