• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, July 30, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

SEC To Cooperate With EFCC On Forex Crisis

by Olushola Bello
1 year ago
in Business
SEC
Share on WhatsAppShare on FacebookShare on XTelegram

The Securities and Exchange Commission (SEC) has pledged to work with the Economic and Financial Crimes Commission (EFCC) in a bid to ensure that trading manipulations are reduced in the virtual space.
Acting director-general of SEC, Dr. Emomotimi Agama stated this while receiving the team from EFCC led by the executive chairman, Ola Olukoyede yesterday in Abuja.

Advertisement

Agama stated that, as the apex regulator of the capital market, the SEC is ready to cooperate with the EFCC in order to achieve the national objective of making sure that illegality is not allowed to thrive.
He said, “this is a testament to the relationship we have and the value you place on the SEC and the best interest of Nigeria. We believe this will be the beginning of greater things to come. My desire is for us to strengthen the existing Memorandum of Understanding we have and ensure it is more effective in dealing with current issues.”

He noted that, “We believe this form of co-operation is in the best interest of Nigerians. This collaboration is very necessary for us to get out of this forex crisis.”

READ ALSO: Forex: MTNN, Airtel Post N511.17bn Loss

The SEC acting DG disclosed that the commission is planning an economic regulatory hub where it can upload requests and other regulators/sister agencies would be able to respond immediately thereby reducing incidences of delay.

Agama disclosed that the Revised Capital Market Master Plan which the commission is currently implementing is geared towards stimulating the economy and attracting FDIs.

RELATED

Hava Lagos Eyes Local Food Tourism Growth

Hava Lagos Eyes Local Food Tourism Growth

25 minutes ago
From Policy To Practice: Interrogating NASENI, BPP Partnership On “Nigeria First Movement”

From Policy To Practice: Interrogating NASENI, BPP Partnership On “Nigeria First Movement”

1 hour ago

Speaking earlier, the chairman of the EFCC, Ola Olukoyede said, Forex malpractices and crisis are injurious to any economy adding that the role virtual traders are playing in destroying the Nigerian economy through their activities needs to be checked.

RELATED: Underage Boys Open Accounts, Get Drivers’ Licences For Fraud – EFCC

He described the SEC as critical in the area of regulatory compliance stating that the commission is ready to use the instrumentality of the commission to stimulate the economy.

“We are enforcers and not regulators and that is why we need the SEC to ensure people play by the rules. We have done a lot in discouraging people from forex malpractices

“The mandate of the EFCC is to enforce all economic and financial crimes in Nigeria and this is a herculean task and that is why we are collaborating with other relevant government agencies. We need to ensure people play by the rules and ensure compliance in a bid to attract Foreign Direct Investments to our economy.

“If people have trust in us and know people play by the rules, it will attract them. And the EFCC is working to ensure people play by the rules,” he explained.

Olukoyede stated that fighting corruption is a collaborative effort that the EFCC cannot do alone emphasising the need for other agencies to lend their cooperation.

He commended the SEC, on its guidelines on virtual assets and pledged the willingness of the EFCC in ensuring compliance by stakeholders.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




Tags: Economic and Financial Crimes Commission (EFCC)Securities and Exchange Commission (SEC)
SendShareTweetShare
Previous Post

How NIN-SIM Linkage Can Tackle SIM Boxing, Call Masking In Nigeria

Next Post

$25bn Nigeria-Morocco Gas Pipeline Project Advances Into Northern Section

Olushola Bello

Olushola Bello

You May Like

Hava Lagos Eyes Local Food Tourism Growth
Business

Hava Lagos Eyes Local Food Tourism Growth

2025/07/30
From Policy To Practice: Interrogating NASENI, BPP Partnership On “Nigeria First Movement”
Business

From Policy To Practice: Interrogating NASENI, BPP Partnership On “Nigeria First Movement”

2025/07/30
IMF Approves $941m Loan To Alleviate Kenya’s Financial Struggles
Business

IMF Raises Nigeria’s 2025 Economic Growth Projection To 3.4%

2025/07/30
Dangote Cement
Business

Dangote Cement Grows Nigeria’s Exports By 18.2%, Records N520.5bn Net Profit

2025/07/29
Dropped Luggage: Foreign, Local Airlines Must Pay $170, N10,000 Compensation, Says NCAA
Business

Dropped Luggage: Foreign, Local Airlines Must Pay $170, N10,000 Compensation, Says NCAA

2025/07/29
Large-cap Stock Drives Local Bourse To N180bn Gains
Business

Stock Market Opens Week Bullish With N400bn Gain

2025/07/29
Leadership Conference advertisement

LATEST

Obi Clarifies Position On PDP, ADC

2 Soldiers, Vigilantes Feared Killed In Plateau Ambush

FCT Screens 250 Pilgrims For Israel, Jordan

Kwara Varsity ASUU Grants 5 Indigent Students Scholarships

Child Trafficking: Court Acquits Lawyer, 4 Others

UNDP Backs Women Reserved Seats Bill

Remi Tinubu Donates N1bn To Displaced Families In Benue

ICPC Partners NCAA To Curb Corruption In Aviation Industry

Banditry: Zamfara Lawmakers Want Funding Of LGAs, Others Probed

Tinubu Praises Yari On Honorary Doctorate Award

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.