Securities and Exchanges Commission Description
About The Securities and Exchange CommissionThe Securities and Exchange Commission is the regulatory body of the Nigerian Capital Market under the supervision of the federal government. It supervises the Nigerian Stock Exchange and ensures orderly, equitable dealings in securities in order to protect the market against insider trading abuses.
History of The Securities and Exchange CommissionThe Securities and Exchange Commission first originated in 1962 as the Capital Issues Committee by the CBN. It was upgraded to a commission owing to increase in economic activities by the Nigerian Enterprises Promotion Decree in 1972. A Financial System Review Committee was set up by the federal government to review the market's realities at that point and the committee's report led to the establishment of the SEC. It has since undergone various updates in policy during different periods Nigeria's history down to the Investment and Securities Act of 2007 from which it currently derives its powers.
SafetyVisitors may have trouble getting into the SEC premises if not on an appointment or having a legitimate reason to want to go in. The security here is very tight.
Best Time to VisitVisitors must have a valid and important appointment to be allowed into the SEC's chambers.
Most Common VisitorsThe SEC counts government reps from various financial agencies, big-company reps, bank representatives many other stakeholders as regular visitors.
Weather at The Securities and Exchange CommissionSecurities and Exchanges Commission is located in Abuja North-Central of Nigeria.Thus, it experiences three weather conditions every year. This includes a warm, humid rainy season and a blistering dry season. In between the two, there is a brief interlude of harmattan occasioned by the northeast trade wind, with the main feature of dust haze and dryness. Temperatures can drop to as low as 16 degrees during the harmattan period.