By InvestAdvocate Lagos (INVESTADVOCATE)-Albert Okumagba, group managing director (GMD) of BGL Plc, was this morning arrested by the Securities and Exchange Commission to the Nigeria Police Force. This is coming on the heels alleged fraud involving Okumagba and the BGL Group in the Nigerian Capital Market (NCM). A source at […]
Frauds & Scandals
NSE, EFCC stop N20m capital market fraud
9/12/2016/Punch Stanley Opara The Nigerian Stock Exchange and the Economic and Financial Crimes Commission have succeeded in aborting a N20m fraud targeted at the estate of an investor in the market, the late Prof. David Osifo. The development was contained in a letter by the deceased’s wife, Prof. Bola Osifo, […]
SEC Receive Complaints against AIMS Asset Management in Respect of Private Placement
December 7, 2016/SEC The Securities and Exchange Commission (“SEC”) received various complaints against AIMS Asset Management Limited who solicited and marketed private placements for two private companies namely Petdrill Development Company Limited and Aims Assurance Company Limited. The Commission while investigating the activities of AIMS Asset Management Limited (a registered […]
