Many Nigerians are again counting losses after another online investment platform identified as “XM Future Music Group” reportedly collapsed, leaving subscribers unable to access their funds amid rising concerns over fraudulent digital investment schemes operating across the country. The platform, popularly known as “XM,” allegedly promised investors returns of up to 100 per cent within …
The Securities and Exchange Commission and the National Youth Service Corps have signed a Memorandum of Understanding to educate corps members on the dangers of fraudulent investment schemes and promote safe investment habits. The agreement was signed in Abuja by SEC Director-General Emomotimi Agama and NYSC Director-General Olakunle Oluseye Nafiu, according to a statement on …
The Securities and Exchange Commission (SEC) said it is collaborating with the National Orientation Agency (NOA) to intensify public enlightenment campaigns against illegal investment schemes. SEC's Director General, Emomotimi Agama, made this known during a meeting with the NOA Director General, Mallam Lanre Issa-Onilu, in Abuja on Thursday. He lamented that the growing prevalence of …
Nigeria’s capital market now faces a major shake-up following mandatory minimum capital requirements set for market entities. Not only will the move see market operators outpace their peers in other African countries, but it will also trigger survival of the fittest. On January 16, 2026, the Securities and Exchange Commission (SEC) announced new minimum capital …
The Securities and Exchange Commission (SEC) has called on Nigerian civil servants to leverage opportunities in the capital market as a pathway to wealth creation, financial security and deeper participation in national economic growth. The Director-General of the SEC, Emomotimi Agama, made the call during a strategic engagement with the Head of Service of the …
The Securities and Exchange Commission (SEC) of Nigeria has increased minimum capital requirements for all regulated capital market entities. It disclosed this in a circular released on Friday, December 16, stating the aim is to boost market stability and align capital with evolving risk profiles. “This review is informed by the need to strengthen market …
Eterna Plc said it has received the Securities and Exchange Commission's (SEC) approval to proceed with its ₦21.52 billion Rights Issue of 978,108,485 ordinary shares of ₦0.50 each at ₦22.00 per share. The disclosure was made in a statement issued on Monday by the Company Secretary, David Edet, and sent to shareholders and the Nigerian …
The Securities and Exchange Commission (SEC) has declared the operations of Voya Investment Management (VIM) fraudulent, warning that the platform is designed to deceive unsuspecting investors. In a statement issued on Wednesday, the Commission said it neither licensed nor approved the operations of Voya Investment Management. The SEC noted that the online investment platform operates …
The Securities and Exchange Commission (SEC) has said it will intensify enforcement actions in 2026 following the enactment of the Investments and Securities Act (ISA) 2025 to strengthen investor protection and market integrity. The SEC Director-General, Emomotimi Agama, said in a statement on Sunday, while outlining the Commission’s regulatory priorities. He noted that the ISA …
The Securities and Exchange Commission (SEC) stated that it would focus on mobilising long-term capital to bridge Nigeria’s infrastructure gaps, streamline regulations, and promote innovative financial instruments that drive investment into productive sectors. The SEC Director General, Emomotimi Agama, said in a New Year's Message on Thursday. Specifically, he said the commission would facilitate the …
