The Birth and origin of the Securities and Exchange Commission (SEC) was traced back to the year 1962, when an ad hoc consultative and advisory body, known as the Capital Issues Committee, was first formed under the aegis of the Central Bank of Nigeria (CBN). Its basic objective was to examine applications from companies seeking to gather Funds from the capital market and recommend the timing of such issues to prevent issues clustering which could overstretch the market’s capacity. The Committee carried out it duties within the Central Bank of Nigeria unofficially as a capital market consultative and advisory body with no regulatory framework.
Functions Of Security And Exchange Commission In Nigeria
- The Securities and Exchange Commission, SEC is a Federal Government Of Nigeria Agency with the sole Mandate to Regulate and Develop the entire Capital Market. Below we have stated some of their Key Functions And how it affect the Nigeria Market.
- They carryout surveillance on all major market transactions to ensure all parties play by the market rules.
- The Commission from time to time call to Inspect the Capital Market Operators both onsite and offsite to ensure no one flaunt the law.
- The Commission also has the mandate to Investigate any reported or perceived breaches of the law governing the capital market.
- They Enforce all the Capital Market Laws.
Security And Exchange Commission Office Addresses In Nigeria
SEC TOWERS, Plot 272, Samuel Adesujo
Ademulegun Street, Central Business District
+234 (0) 94621100;
+234 (0) 94621168
3, Idejo Street, Opposite ICON House,
Off Adeola Odeku Street, Victoria Island
African Alliance House (4th Floor), F1, Sani Abacha
Way/Airport Road, Opposite KLM Airlines
31 Woji road, GRA phase 2