By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Nigeria’s Securities and Exchange Commission (SEC) has announced the suspension of Shalom Investment and Financial services Limited and its sponsored individuals from all capital market activities.

A statement on the official website of SEC said ‘’The General Public is hereby informed that Shalom Investment and Financial services Ltd and its sponsored individuals have been suspended from all capital market activities effective 20th May, 2014.’’

The Nigerian securities regulator said the suspension of Shalom Securities is as a result of its refusal/failure to comply with the commission’s directive to purchase completely client’s shares paid for since 2008, resolve the other complaints against it and pay the penalty imposed by the commission.