The Securities and Exchange Commission (SEC) has revoked the operating license of 84 capital market operators that are inactive, and has warned the public including market operators such as the Central Securities Clearing System (CSCS), Chartered Institute of Stockbrokers (CIS), Nigeria Stock Exchange (NSE), and other trade groups to desist from conducting business with them.
Investors are particularly advised to take note, especially if they currently have business with the brokers.
The 84 firms whose license were revoked are as follows:
| S/N | FIRM | FUNCTION(S) |
| 1. | AIQ VENTURE CAPITAL FUND MANAGERS LTD | Private Equity Fund Manager |
| 2. | ALLBOND INVESTMENT LIMITED | Broker/Dealer |
| 3. | AMALGAMATED CAPITAL FUNDS LTD | Venture Capital Manager |
| 4. | ASSOCIATED INVESTMENT TRUST CO. LIMITED | Fund/Portfolio Manager |
| 5. | BAYHEAD ALPHA CAPITAL LTD | Fund/Portfolio Manager |
| 6. | BLUEBIRD CAPITAL LTD | Issuing House |
| 7. | BOSTON CAPITAL INVESTMENTS LIMITED | Corporate Sub-Broker |
| 8. | BRICKFIELD ROAD ASSOCIATES LTD | Rating Agency |
| 9. | CAPITAL PARTNERS LIMITED | Corporate Investment Adviser, Fund/Portfolio Manager |
| 10. | CAPITAL STRUCTURES LTD | Portfolio Manager, Corporate Investment Adviser |
| 11. | CIRCULAR TRUST LTD | Portfolio Manager |
| 12. | CITI ASSET MGT LTD | Fund/Portfolio Manager |
| 13. | CITIZENS INV. & SEC. LTD. | Venture Capital Manager |
| 14. | CITY INVESTMENT MANAGEMENT. LTD | Broker/Dealer |
| 15. | CONSOLIDATED INVESTMENT LIMITED | Broker/Dealer |
| 16. | CONSULT & CAPITAL LIMITED | Fund Manager |
| 17. | DAKAL SERVICES LIMITED | Broker/Dealer |
| 18. | DE-CANON INVESTMENT LIMITED | Broker/Dealer |
| 19. | DEVELOPMENT BUSINESS CO. | Fund/Portfolio Manager |
| 20. | DOLBIC FINANCE LIMITED | Corporate Investment Adviser, Portfolio Manager, Broker/Dealer |
| 21. | DVCF OIL & GAS PLC | Venture Capital and Fund Manager |
| 22. | DYNAMIC TRUST & SECURITIES LTD | Fund/Portfolio Manager |
| 23. | EAZYTRADE CONCEPT LTD. | Portfolio Manager |
| 24. | ELYON’S ASSET MANAGEMENT LTD | Fund Manager |
| 25. | EMI CAPITAL RESOURCES LTD | Broker/Dealer |
| 26. | ENTERPRISE CAPITAL MGT. LTD. | Venture Capital Manager |
| 27. | EQUINOX ASSET MANAGEMENT LIMITED | Corporate Investment Adviser, Portfolio Manager |
| 28. | EXPRESS DISCOUNT LIMITED | Fund/Portfolio Manager, Corporate Investment Adviser |
| 29. | FB ASSET MGT. LIMITED | Portfolio Manager, Corporate Investment Adviser |
| 30. | FIRST MARINA TRUST LIMITED | Broker/Dealer |
| 31. | FITTCO SECURITIES LIMITED | Broker/Dealer |
| 32. | FLOODGATE FINANCE & SEC. LIMITED | Corporate Sub-Broker |
| 33. | G. AKOMAS & PARTNERS | Fund/Portfolio Manager |
| 34. | GLOBAL CAPITAL MARKET LTD. | Issuing House |
| 35. | GLOBAL INV. & SEC. LTD. | Broker/Dealer |
| 36. | HABITAT TRUST LTD | Fund Manager |
| 37. | HAZONWAO ASSETS MANAGEMENT LTD | Fund Manager |
| 38. | HONEY COMB ASSET MGT. LTD. | Fund/Portfolio Manager |
| 39. | INDEMNITY FINANCE LIMITED | Broker/Dealer |
| 40. | INTEGRATED CAPITAL SERVICES LTD | Issuing House |
| 41. | INVESTMENT MONITORS LTD | Corporate Sub-Broker |
| 42. | JUBILEE GLOBAL FUND PLC | Fund Manager |
| 43. | KENDALL SECURITIES LIMITED | Broker/Dealer |
| 44. | KINGSWAY SECURITIES LIMITED | Corporate Sub-Broker |
| 45. | KOLTRON LTD | Fund Manager |
| 46. | LOMBARD ASSET MGT. LIMITED | Fund/Portfolio Manager |
| 47. | LYNAC SECURITIES LIMITED | Broker/Dealer |
| 48. | MALACHAI FUNDS & ASSETS MGT. LTD | Fund/Portfolio Manager |
| 49. | MANINVEST ASSET MANAGEMENT PLC | Broker/Dealer |
| 50. | METROPOLITAN TRUST NIGERIA LIMITED | Broker/Dealer |
| 51. | NCDF INVESTMENT LIMITED | Venture Capital Manager |
| 52. | N-CHEQUE SECURITIES LTD | Portfolio Manager |
| 53. | NICHE SECURITIES LIMITED | Broker/Dealer |
| 54. | NICON Trustee LTD | Corporate Investment Adviser, Registrar, Trustee, Fund/Portfolio Manager |
| 55. | NMA INVESTMENT & SECURITIES LTD | Portfolio Manager |
| 56. | NOBLE FINANCIAL TRUST LTD. | Fund/Portfolio Manager, Corporate Investment Adviser |
| 57. | NOVARE INVESTMENTS LTD | Fund/Portfolio Manager |
| 58. | OCEANIC TRUSTEE LTD | Trustee |
| 59. | OMAS INVESTMENT & TRUST COMPANY LIMITED | Broker/Dealer |
| 60. | OMNISOURCE INTERNATIONAL LTD. | Broker/Dealer, Corporate Investment Adviser, Portfolio Manager |
| 61. | PAN SECURITIES LIMITED | Portfolio Manager, Issuing House |
| 62. | PEACH & PRIME LTD. | Portfolio Manager |
| 63. | PEAK SECURITIES LIMITED | Broker/Dealer |
| 64. | PENINSULA ASSET MANAGEMENT & INVESTMENT COMPANY LIMITED | Broker/Dealer |
| 65. | PHB ASSET MANAGEMENT | Fund/Portfolio Manager |
| 66. | PLATINUM CAPITAL LIMITED | Issuing House, Broker/Dealer, Fund/Portfolio Manager |
| 67. | PRUDENTIAL SECURITIES LIMITED | Broker/Dealer |
| 68. | SEASONS TRUST & INVESTMENT LTD | Portfolio Manager |
| 69. | SECURITIES SOLUTIONS LIMITED | Broker/Dealer |
| 70. | SECURITIES TRADING & INVESTMENTS LIMITED | Broker/Dealer |
| 71. | SKYLIMIT INVESTMENT LTD | Corporate Sub-Broker |
| 72. | SLAMAD SECURITIES LTD | Corporate Sub-Broker |
| 73. | STOCK INVESTMENT SEC. LTD. | Corporate Investment Adviser, Fund Manager |
| 74. | SYNERGY INV. & SEC. LIMITED | Registrars,Trustee, Corporate Investment Adviser, Fund/Portfolio Manager |
| 75. | TARICOL INVESTMENT LTD | Fund/Portfolio Manager |
| 76. | TREASURELINE INTERLINK LTD | Fund Manager |
| 77. | TRUEVINE GLOBAL ASSET MGT. LIMITED | Corporate Investment Adviser, Portfolio Manager |
| 78. | UTB TRUSTEE LIMITED | Trustee |
| 79. | VENTURES & TRUST LIMITED | Corporate Investment Adviser, Fund Manager |
| 80. | VILEO CAPITAL & ASSET MGT. LTD | Fund/Portfolio Manager |
| 81. | VISA INVESTMENTS & SEC. LTD | Portfolio Manager |
| 82. | WIZETRADE CAPITAL & ASSET MANAGEMENT LIMITED | Broker/Dealer |
| 83. | WT SECURITIES LIMITED | Broker/Dealer |
| 84. | ZUMA SECURITIES LIMITED | Broker/Dealer |
The Securities and Exchange Commission is empowered under section 30 (1) and (2) of the Investment and Securities Act (ISA) 2007 to revoke the operational license of capital market operators that are inactive.
