By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE) – Nigeria’s Securities and Exchange Commission (SEC) on Monday announced the extension of the new minimum capital requirements for capital market operators to September 30, 2015 as 262 met the requirement as at December 24, 2014 deadline.

SEC in a notice on its official website said its board at its meeting of December 22, 2014 reviewed the status report on the level of compliance by capital market operators, with the new minimum capital requirement which has a compliance deadline of 31st December 2014.

The Nigerian securities regulator said it took cognisance of the effect of the global economic situation and approve dan extension of the deadline for compliance with the new minimum capital requirements by nine months, to September 30, 2015.

“The board however took cognisance of the effect of the global economic situation and approved an extension of the deadline for compliance with the new minimum capital requirements by nine months, to September 30, 2015.

According to the Commission, its board expressed satisfaction with the efforts made by all operators, particularly those who have complied with the new requirements.

“We commend the commitment of all stakeholders to building a world class capital market that enables Nigeria realise its aspiration of a prosperous and peaceful nation,” SEC affirmed.