Economy
Online Trading Portal: SEC Approves New Rules for Stockbrokers
By Dipo Olowookere
The Securities and Exchange Commission (SEC) has approved the new rules drafted by the Nigerian Stock Exchange (NSE) to guide the establishment and usage of online trading portals by stockbroking companies operating in the nation’s capital market.
A notice released to the investing public at the weekend stated that the new rules were approved by SEC, the apex capital market regulator in the country, in August 2019.
Business Post gathered that under the new guidelines, operators intending to set up an online trading portal must get a dedicated and secure network connection alongside an Order Management System (OMS) approved by the exchange.
The new rules stipulated that no brokerage firms must operate an online trading portal without subjecting it to Vulnerability Assessment Penetration Testing (VAPT) by an authorized, credible Information Security company (VAPT Assessor) on a regular basis and in any event not less than twice every year.
It was noted that for existing online trading portal, the operators must within three months of the effective date confirm that it has procured a dedicated and secure network connection, and an approved OMS.
“Applications used by clients to access the OMS shall be protected by the requirement of strong passwords, strong authentication in line with industry standards, optimized for performance and regular security testing,” one of the guidelines said.
It was further stated that stockbrokers must conduct a comprehensive Know Your Client (KYC)exercise on all clients registered through the online trading portal before an online trading account is activated and before any transaction is carried out by clients on the portal. The dealing member shall keep the KYC records and any related records for a minimum period of six years.
The NSE further said to operating an online trading platform, stockbrokers must put in place at least two factor authentication, encryption, secure Hypertext Transfer Protocol (HTTPS), extended validation, policies and procedures to mitigate and guard their online trading portals from fraud, cyber-crime and other risks to the firm and its clients and other security standards as the NSE may prescribe from time to time.
The NSE said it would want all trading activities on the online trading portal be duly monitored and supervised by an authorized clerk employed by the brokerage company.
However, stockbrokers must disclose to their clients, via their online trading portals, and on their account opening forms, the risks associated with using the online trading portal.
They are not required to share commissions from trade transactions effected via the online trading portal except with other dealing members and such other registered market operators as the NSE may from time to time specify.
They must clearly display on the online trading portal all fees and charges (if any) associated with the usage of the online trading portal, as well as the details for customer service and the complaints management procedure.
They would be expected to take all reasonable precaution to ensure the availability, integrity, confidentiality and security of transmission of financial information to and from clients and as well exercise care in determining clients’ financial sophistication and suitability for particular investments recommended by the dealing member.
Under the new rules, stockbrokers are empowered to suspend or close a client’s account where it has been established that such account is being used for fraudulent transactions, money laundering, market abuse, and any other illegal purpose and notify the NSE of such account suspension or closure within 24 hours of the action.
However, it was stressed that “Any dealing member firm that contravenes any of the online trading portal rules shall be liable to pay a fine of not less than N250,000 and such other penalties as may be prescribed from time to time by the NSE.
View the full guidelines HERE
Economy
SEC Postpones Q2 2026 Pre-registration Training, Examination for CMOs
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
Economy
Fidson Lists Additional 600 million Shares on Stock Exchange
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
Economy
FG Approves Payments to 1,240 Contractors to Ease Liquidity Pressure
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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