January 10, 2022

CIRCULAR 53 – NOTIFICATION OF STRICT APPLICATION OF PENALTIES FOR NON-COMPLIANCE WITH THE RULES OF NASD SECURITIES EXCHANGE

Upon the review of the activities of the NASD OTC Market in 2021, we observed that some ParticipatingInstitutions continuously defaulted in complying with NASD’s Market Rules, […]
December 31, 2021

CIRCULAR 52 – NOTIFICATION OF SEC CIRCULAR ON THE COMMENCEMENT OF REGULATORY FEE ON FIXED INCOME (BONDS) SECONDARY MARKET TRANSACTIONS

The Securities and Exchange Commission of Nigeria (SEC) recently released a circular on the commencement ofregulatory fee on fixed income (bonds) secondary market transactions, For more […]
November 18, 2021

NOTIFICATION OF SEC’S GUIDANCE ON THE IMPLEMENTATION OF SECTIONS 60 – 63 OF THE INVESTMENTS AND SECURITIES ACT, 2007 –EXTENSION OF COMPLIANCE DATE TO DECEMBER 2023

The Securities and Exchange Commission (SEC), recently released a statement by virtue of which itextended the deadline for public companies to comply with its Guidance on […]
December 23, 2020

CIRCULAR 45- CHANGE IN TEMPLATE OF RENDITION OF RETURNS TO NASD OTC

All Participating Institutions (excluding Custodians and Issuing Houses) are hereby notified that NASD PLC has amended the template for ‘Rendition of Quarterly Returns. For more details […]
December 22, 2020

CIRCULAR 44 – EXTENSION OF DEADLINE FOR PAYMENT OF TRADE GUARANTEE FUND

This is to notify all Registered Participating Institutions yet to make their one-time contribution of₦100,000 (One Hundred Thousand Naira) to the NASD Trade Guarantee Fund that […]
December 2, 2020

CIRCULAR 43 – STAMP DUTIES ADMINISTRATION INCREMENT FROM 0.075% TO 0.08%

We refer to the Public Notice in the Business Day Newspaper of Monday, 20 July 2020, captioned ‘Clarification of Administration of Stamp Duties in Nigeria’ issued […]
November 13, 2020

CIRCULAR 42 – ONE TIME CONTRIBUTION TO THE NASD TRADE GUARANTEE FUND

In reference to Circular 35 on the one time mandatory contribution to be made into the NASD Trade Guarantee Fund by all registered Participating Institutions on […]
March 2, 2020

CIRCULAR 38 – CLASSIFICATION OF PROPRIETARY ACCOUNT

Participating Institutions are by this Circular required to nominate one account to be maintained as the Proprietary account to ease the deduction of statutory stamp duty […]
July 17, 2019

Expiration Of Value Added Tax – Exemption of Commission on Stock Exchange Transactions

Please note that effective 25 July 2019, VAT is to be charged on all commissions applicable to capital market transactions which include Commissions – a. earned […]