The bill also proposes more regulatory powers for the Securities and Exchange Commission as well as ease state and local governments’ access to securities and facilities.
The legislation is titled, ‘A Bill for an Act to Repeal the Investments and Securities Act, 2007 and Enact the Investments and Securities Bill to Establish Securities and Exchange Commission as the Apex Regulatory Authority for the Nigerian Capital Market as well as Regulation of the Market to Ensure Capital Formation, the Protection of the Market to Ensure Capital Formation, the Protection of Investors, Maintain Fair, Efficient and Transparent Market and Reduction of Systematic Risk; and for...
Chairman of the House Committee on Capital Market, Babangida Ibrahim, who sponsored the bill, noted that the current law governing the Nigerian capital market, the Investments and Securities Act, Act No. 29 of 2007, was signed into law by the late President Umar Musa Yar’adua in June 2007. Ibrahim noted that current trends in capital markets regulation, over 14 years after, have made it necessary to make major improvements to the Act to align the Nigerian market with international standards.He listed the objectives of the proposal to include enhancement of provisions relating to efficient regulation of investment schemes and to effectively combat the proliferation of Ponzi schemes in Nigeria.
Ibrahim explained that the bill prohibits Ponzi/pyramid schemes as well as other illegal investment schemes and prescribes a jail term of not less than 10 years for their promoters.Introduction of new provisions for the regulation of derivatives and commodities trading to deepen the Nigerian capital market and the economy.
This is obviously misplaced priority.
Why are u guys afraid of.death penalty instead for all corrupt and punzy schemes. Until u pass that death penalty you all are bunch of failures
15 years is fair..then 25 years for budget padding, stealing public funds and co
Good Move
officialEFCC ICPC_PE this woman have scammed over 5000 investors
officialEFCC ICPC_PE
How many years will u propose for budget pading? Please answer for it a worse offence.
Good one. If it is implemented appropriately, it will caution evil acts
olawale1903 what's ur view on this bro
The money from these so called 'Ponzi' schemes that the government (EFCC) confiscated, can't they (FG) do well to give them back to the investors
Then all of you should choose the prison you want to serve. No ponzi pass una.
Dear all, I have decided to represent good people of Akinyele/Lagelu Federal Constituency from Oyo State come 2023 general Elections under the platform of PDP. Please, support me!!!
How many should we propose for public funds looters? 🤔 How many for those who 'diapered' and duplicate budgets? Were gbogbo
Hahahahahaha what if the operators are outside our shores.?
Animal talk don start again😂
What about failed promises by government? How many years in prison!! Werey people
Zoo
Mad house
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Daily Trust - 🏆 13. / 51 Read more »
Source: LeadershipNGA - 🏆 4. / 77 Read more »
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
Source: LeadershipNGA - 🏆 4. / 77 Read more »
Source: channelstv - 🏆 7. / 63 Read more »