Business
SEC Revokes Inactive Capital Market Operators’ Licences
The Securities and Ex
change Commission (SEC) has announced the revocation of operating licences of inactive capital market operators in the country.
According to a statement issued in Abuja on Monday, SEC said it wielded its powers under Section 30 (1) and (2) of the Investment and Securities Act (ISA) 2007 to revoke the operational licences of the capital market operators for their inactivity or dormancy in the capital market operation.
The Tide learnt that 84 firms licences were revoked in line with the ISA act 2007.
The firms include Fund Managers, Portfolio Managers, Venture Capital Managers, Corporate sub-brokers, broker/dealers, Corporate Investment advisers, issuing houses, Registrars, Trustees, Fund/Portfolio Managers etc.
It would be recalled that the SEC management had January 2015 issued directive to capital market operators to recapitalize their capital base with commission, the directive was further extended to September 30, 2015.
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FG Fixes Uniform Prices for Housing Units Nationwide, Approves N12.5m For 3-bedroom Bungalow ……..Says Move To Enhance Affordability, Ensures Fairness
“The approved selling prices are as follows: One-bedroom semi-detached bungalow, N8.5 million; two-bedroom semi-detached bungalow: N11.5 million and three-bedroom semi-detached bungalow, N12.5 million,” the statement added.
Minister of Housing and Urban Development, Ahmed Dangiwa, stated that priority in the allocation of the housing units would be given to low and middle-income earners, civil servants at all levels of government, employees in the organised private sector with verifiable sources of income, and Nigerians in the Diaspora who wish to own homes in the country.
The Permanent Secretary in the ministry, Dr. Shuaib Belgore, explained that several payment options have been provided to make the houses affordable and flexible. These include outright (full) payment, mortgage, rent-to-own scheme, and installment payment plans.
The ministry further announced that the sale of the completed housing units across the northern and southern regions will soon commence.
“Applications can be made through the Renewed Hope Housing online portal at www.renewedhopehomes.fmhud.
The ministry, however, clarified that the approved prices apply strictly to the Renewed Hope Housing Estates which are funded through the ministry’s budgetary allocation, as against the Renewed Hope Cities in Karsana Abuja, Janguza Kano, Ibeju Lekki, Lagos which are being funded through a Public Private Partnership (PPP).
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