Sept 9, 2015/SEC
To facilitate the smooth implementation of the new minimum capital requirements for Capital Market Operators (CMOs), the Capital Market Committee (CMC) set up a market-wide “Implementation Committee on New Minimum Capital Requirement for CMOs” comprising the Securities and Exchange Commission (SEC), the Nigerian Stock Exchange (NSE), the Central Securities Clearing System (CSCS), the Association of Stockbroking Houses of Nigeria (ASHON) and all other capital market trade groups.
The Committee hereby advises the investing public and public companies to verify the compliance status of their preferred CMOs by checking the list on the SEC corporate website. The general public should also note the current list may change because some CMOs are in the process of injecting additional capital, seeking reduction or reclassification of functions as well as undergoing mergers and acquisitions.
The final list of CMOs who meet the 30th September 2015 deadline would be uploaded to the SEC website after proper capital verification has been conducted. The general public should further note that any CMO that fails to comply with the 30th September 2015 deadline will cease to operate in the Nigerian capital market.
