Cases Before the Administrative Proceedings Committee
(April, 2011 to January, 2016)
| S/No | Title of Case | Case Number | Nature of Violations | Remarks |
|---|---|---|---|---|
| 1 |
1. Afolabi Gabriel Oluwaseyi 2. First Registrars & Investor Services Ltd 3. NOUN Staff Cooperative Multipurpose Society Ltd 4. Dr. Rufus Chika Okoro 5. Ministry of Finance, Delta State 6. Azort Nigeria Ltd 7. Estate of Late Chief John Chuks Adigwe 8. Chief Professor Marcellus Umunnakwe Ojua 9. Orsule Ann Awase 10. Mahmoud Usman Vs 1. BGL Securities Ltd. 2. BGL Assets Management Ltd. 3. Albert E. Okumagba 4. Peter Adebola 5. Joseph Ashley-Osuzoka 6. Victor Obire 7. Nkechi Azubuike 8. Adekunle Alli 9. Ande Ewubare 10. Chibundu N. Edozie 11. Mohan Lalchandani 12. Anthony Nwozor 13. Oluwo Oluwale W. 14. Joshua Sesan Adetiloye 15. Victor Inyang 16. Hilary Eludu 17. Musa Kida 18. Hajia Fatima Abdurrahman 19. Ehime Alofoje 20. Adum Bili Andrew 21. Ofem Mbui Omni 22. Ms. Mshelia Clara Bittinger 23. 23. Nnite Chinwe Ogochukwu |
APC/1/2016 |
Performance of a capital market function without registration Promoting/Marketing products not registered by the Commission Failure/Refusal to resolve clients’ complaints Failure to file statutory returns Furnishing the Commission with false and misleading information Other violations of the Investments and Securities Act, 2007, SEC Rules and Regulations, the Code of Conduct for Capital Market Operators and their Employees and Code of Corporate Governance for Public Companies. |
The Respondents except 20th, 22nd & 23rd Respondents engaged in acts adversely affecting the investing public’s image of and confidence in the capital market. The 1st Respondent was ordered to restitute the 1st, 4th & 7th Complainants. The 2nd Respondent was ordered to restitute the 3rd, 5th, 6th, 8th, 9th & 10th Complainants. The 1st Respondent to refund stated amount to the 2nd Complainant. The affected Respondents were banned from capital market activities for specified periods in addition to payment of penalties. 1st & 2nd Respondents’ Certificates of Registration were cancelled without prejudice to recovery of all existing liabilities. |