BGL and its Subsidiaries Remain Suspended –SEC

The Securities and Exchange Commission (SEC) has announced that, in view of a Court ruling, “BGL, its subsidiaries and sponsored individuals remain suspended from operating in the Nigerian capital market.”

The Commission said the Federal High Court, on September 17th, 2015, in Suit No. FHC/L/CS/767/15; BGL Plc & Ors Vs Securities and Exchange Commission, had discharged the Ex-Parte order obtained by BGL Plc and its subsidiaries on the 27th of May 2015.

It therefore notified the Nigerian Stock Exchange, the Central Securities Clearing System, the Financial Market Dealers Quotation Plc, the Nigeria Association of Securities Dealers Plc and the general public that the directives of the Commission in its public notice dated the 21st of May 2015 still subsists.