By InvestAdvocate
Lagos (INVESTADVOCATE)-The Securities and Exchange Commission (SEC) said its investigating complaints relating to the mismanagement of Chief Opral Mason Benson’s stocks valued at N185, 203,360.00 and unauthorised sale of 500,000 units of NB Plc shares belonging to Ngozi Oyekwere Nwachuku.
“A preliminary investigation carried out by the Commission revealed that WT Securities Ltd. sold the complainants shares without authority and Management of the Commission has directed that the firm, its Directors and Sponsored Individuals be invited to a meeting to explain their roles in the transaction,” SEC said in a statement on its official website.
According to the Commission, a meeting will be held today June 7, 2016 at its head office.
The under-listed Directors and Sponsored individuals of WT Securities Ltd invited to the meeting include, Aisha Lawal, Taofik Lawal and Barrister Ajinamo Umma Hani all Directors, while the sponsored individuals invited are Lawal Taofiq Ayorinde, Amakude Cosmas Madu and Lawal Aisha Iyabo – Compliance Officer.
“Consequent upon the above, the Directors and Sponsored individuals of WT Securities Ltd. are hereby invited to a meeting to show cause why they should not be sanctioned for violating the provisions of Rules 43 and 182A (1), (3) and (5) of the SEC Rules and Regulations,” SEC affirmed.
