SEC hammers BGL, suspends Okumagba from capital market

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The Securities and Exchange Commission (SEC) has suspended BGL Asset Management Ltd, BGL Capital Ltd and BGL Securities Ltd from all capital market activities.
In a statement in Lagos on Wednesday, SEC directed that Albert Okumagba, the Group Managing Director, BGL Group, should cease to be a registered sponsored individual with the commission.
This directive, according to the statement follows the withdrawal of the registration of BGL Plc as a capital market operator.
The statement disclosed that all suspicious transactions observed in the course of the investigation had been referred to the appropriate law enforcement agencies for further investigation.
It stated that BGL Asset …Read More

Source:: New Mail