The Securities and Exchange Commission has issued a pre-notice for the cancellation or withdrawal of about 157 inactive Capital Market Operators (CMOs) for failure to render their statutory returns to the commission.
Prominent among CMOs listed are NICON Trustee Ltd., Leadway Assurance Co. Ltd., LASACO Assurance Plc. and Platinum Capital Ltd.
Others are Prudential Trust Co. Ltd., UAC Registrars Ltd., Unic Insurance Plc., Union Homes Savings and Loans Plc. and Wema Assets Management Plc.
The commission, which conveyed the information on its website on Wednesday, also added that the affected companies may have either had their capital eroded or were affected by policy changes.
The notice requested affected CMOs to make presentations to the commission on or before November 13 with reasons why their registration should not be cancelled.
It urged them to forward hard copies of their presentations to its head office, while electronic copies should be sent to: inspectorate@sec.gov.ng and also to: monitoring@sec.gov.ng
(NAN)