The Securities and Exchange Commission (SEC) has notified the investing public of its intension to withdraw the certificate of registration of 157 Capital Market Operators (CMOs) that has been performing below expectation.
According to a statement by SEC, “the affected one hundred and fifty-seven (157) Capital Market Operators (CMOs) were registered by the Securities and Exchange Commission for various functions in the Nigerian capital market.
“However, these CMOs have consistently failed to render their statutory returns to the Commission, had their capital eroded, while others were affected by policy changes.
“In view of this fact, the Commission hereby request the affected CMOs to make presentations to the Commission, on or before 13th November, 2020, giving reasons why their registration should not be cancelled.”
“Hard copies of the presentations should be forwarded to the Commission’s head office while soft copies should be sent to the following email addresses:inspectorate@sec.gov.ng, monitoring@sec.gov.ng”