Posts

New SEC Directive Rocks Nigeria’s Capital Market: What Directors and Firms Must Know

Image
The Securities and Exchange Commission (SEC) of Nigeria has just dropped a regulatory bombshell that’s sending ripples across the nation’s financial ecosystem. On Friday, the SEC issued a circular introducing strict tenure limits for directors of capital market operators (CMOs) classified as “significant public interest entities.” This unprecedented move has triggered anxiety and urgent conversations in boardrooms across the country. But what exactly does this mean for businesses and executives? Let’s unpack the details. 📜 What Did the SEC Announce? The new directive, issued on June 21, 2025, sets maximum time limits that directors can serve in their roles—both within the same company and across affiliated group structures. ✴️ Key Provisions: 10-year limit in the same company: No director may serve more than 10 consecutive years at a single capital market operator. 12-year limit across a group: The total allowable tenure is 12 consecutive years if the director works ac...
Image
Dear His Excellency, Senator Orji Uzor Kalu I offer my heartiest congratulations on your well-deserved appointment as Chairman of the Senate Committee on South East Development Commission. Your leadership by example, your relentless commitment, and your dedication to the development of the South East have continued to inspire all of us. This appointment is a reflection of your rich experience, excellent service, and strong commitment towards developing our people. I have no doubt in saying that under your leadership, the commission will make considerable headways in developing growth, harmony, and prosperity in the region. On my part and that of the OUK Movement, Umuahia South LGA, Abia State, I congratulate you for your appointment. I hope your period in office will be filled with significant achievements that will outlast your years in office. Congratulations once again, Your Excellency Prince Apugo Uchendu Chairman, OUK Movement, Umuahia South LGA, Abia State