The Securities and Exchange Commission (SEC) has established an Unclaimed Monies Office to help investors resolve points involving unclaimed funds, offering a direct channel for complaints with out prolonged processes.
SEC Director-General Emomotimi Agama disclosed this throughout an look on the Duke in Business podcast.
He defined that investors might contact the workplace instantly, after which the fee would attain out to the related events to facilitate decision.
SEC opens digital channels for simple contact
Agama mentioned investors might provoke contact by the SEC’s digital channels, together with social media and messaging platforms.
- “We set out to cope with this matter frontally. And how did we do it? We arrange an workplace particularly on the SEC known as the Unclaimed Monies Office. Which means when you’ve got any of such challenges, you don’t want to undergo processes. Go straight to them and they’ll get in contact with the individuals.
- “Is it Instagram? Is it telephone? Is it WhatsApp? Just name it,” he mentioned.
The initiative is a part of the fee’s efforts to enhance investor engagement and make it simpler for market individuals to resolve complaints.
SEC authorised Dangote Refinery IPO in report 5 days
Agama mentioned SEC authorised the Dangote Refinery preliminary public providing (IPO) in 5 days, a report timeframe for a proposal of its dimension.
Agama credited the velocity of the approval to operational effectivity, expertise and regulatory experience.
The SEC authorised the provide in September, clearing the best way for what has been described as one in every of Africa’s largest share choices.
Asked how the fee processed the provide so shortly, Agama mentioned the consequence mirrored enhancements in how the regulator handles functions.
- “Through efficiency, technology, understanding,” he mentioned, including that familiarity with the subject material helps officers full their work sooner, whereas a lack of information can lead to repeated requests for extensions.
Agama mentioned extra stakeholders had been starting to recognise the SEC’s efforts, citing suggestions from a happy investor for example.
- “Reforms are working, completely,” he mentioned.
OPay should listing in Nigeria, says SEC DG
Agama additionally reiterated that OPay, the digital monetary companies firm, should listing in Nigeria, arguing that companies producing income from the nation ought to present native investors with a chance to take part of their progress.
- “They have said clearly, they must list here. There’s no two ways about it. You earn money from Nigeria, Nigerians must benefit from it. That is non-negotiable,” he mentioned.
According to Agama, the board of the Nigerian Exchange (NGX) had offered the proposal for corporations incomes income in Nigeria to listing regionally to President Bola Tinubu. Agama mentioned he attended the assembly on behalf of the federal government.
- “The government said yes. The president said yes,”he mentioned.
What you must know
The Dangote Refinery IPO involves an offer of 4.1 billion ordinary shares at N525 per share, offering investors with a chance to purchase an curiosity in one in every of Nigeria’s largest industrial initiatives.
The SEC has additionally registered 120.13 billion present extraordinary shares within the refinery, implying a valuation of roughly $47 billion primarily based on Reuters’ calculations.
Located on the outskirts of Lagos, the refinery has a processing capability of 650,000 barrels per day and was constructed at an estimated value of $20 billion.
Since commencing operations, the power has develop into a significant participant in Nigeria’s gas market and has expanded exports of refined petroleum merchandise to markets throughout Africa and Europe.
