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Nairaland Forum / Nairaland / General / Investment / SEC Suspends BGL From Capital Market Operations (15019 Views)
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SEC Suspends BGL From Capital Market Operations by davide470(m): 2:08pm On May 21, 2015 |
So when i saw these today, i was not happy; not because of their suspension (it was deserved), but their staffs especially nairalanders. I wish you guys all the best. The Securities and Exchange Commission (SEC) on Wednesday (20/5/2015) announced the suspension of BGL Group Plc from all capital market operations.The SEC also said that Mr. Albert Okumagba, who is the Group Managing Director of BGL Group, should cease to be a registered Sponsored Individual with the commission following the withdrawal of the registration of BGL Plc as a capital market operator. Souce: http://www.thisdaylive.com/articles/sec-suspends-bgl-from-capital-market-operations/209883/ |
Re: SEC Suspends BGL From Capital Market Operations by moyinoluwabun(m): 2:12pm On May 21, 2015 |
Nice one. D investors are always @d receiving end of dia sharp practices. |
Re: SEC Suspends BGL From Capital Market Operations by Blackchampion(m): 2:22pm On May 21, 2015 |
Ok. In other news 3 Likes
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Re: SEC Suspends BGL From Capital Market Operations by Nobody: 2:23pm On May 21, 2015 |
i see |
Re: SEC Suspends BGL From Capital Market Operations by Blessmira: 2:23pm On May 21, 2015 |
OK oo. Maybe it is part of d change some pple are asking for. |
Re: SEC Suspends BGL From Capital Market Operations by Nobody: 2:24pm On May 21, 2015 |
davide470: used to be a staff in 2006.. soon afterwards capital market tanked and I moved on. sad though. Banc Guaranty Limited (BGL) one of the finest, now fallen. truly a sad event. EGBA!!! a true cowboy 1 Like 1 Share |
Re: SEC Suspends BGL From Capital Market Operations by iyatrustee(f): 2:24pm On May 21, 2015 |
The capital market need a whole lot cleansing. |
Re: SEC Suspends BGL From Capital Market Operations by Dahveydson(m): 2:24pm On May 21, 2015 |
Sadly It's the junior staffs that will suffer. |
Re: SEC Suspends BGL From Capital Market Operations by simplemach(m): 2:25pm On May 21, 2015 |
Ok, this news is probably for the capital market market investors. As for people like us wen dey invest for bear bear bank, guess nobody can suspend such company. |
Re: SEC Suspends BGL From Capital Market Operations by abbeyoye2001(m): 2:26pm On May 21, 2015 |
Ok |
Re: SEC Suspends BGL From Capital Market Operations by skinnyzsam(m): 2:26pm On May 21, 2015 |
No doubt, some salaries and wages will be cut short and not paid |
Re: SEC Suspends BGL From Capital Market Operations by therealwajo: 2:26pm On May 21, 2015 |
The same legendary BGL? 1 Like |
Re: SEC Suspends BGL From Capital Market Operations by Nobody: 2:27pm On May 21, 2015 |
Great |
Re: SEC Suspends BGL From Capital Market Operations by Nobody: 2:27pm On May 21, 2015 |
therealwajo: Yes oooooh |
Re: SEC Suspends BGL From Capital Market Operations by abbeyoye2001(m): 2:27pm On May 21, 2015 |
Dnt understand sha! Bu I must comment |
Re: SEC Suspends BGL From Capital Market Operations by chrysso83(m): 2:28pm On May 21, 2015 |
Season of sack, suspension and resignation. |
Re: SEC Suspends BGL From Capital Market Operations by Matttthew(m): 2:30pm On May 21, 2015 |
Not my probs |
Re: SEC Suspends BGL From Capital Market Operations by Nobody: 2:31pm On May 21, 2015 |
Dear lalasticlala, Please i suggest that front page bound threads with nice content should be allowed to mature with responsible comments before hitting fp reason is to stop this jobless kids from causing massive derailing leading to thread dieing off prematurely. 4 Likes |
Re: SEC Suspends BGL From Capital Market Operations by Tvegas(m): 2:31pm On May 21, 2015 |
What is the fate of those who invested millions in the BGL private placement?. A friend had about 12 million locked in. Talk of private offerings becoming burnt offerings. SEC should go a step further by prosecuting and asset stripping all capital market fraudsters with that investors will have more confidence in the market. 3 Likes |
Re: SEC Suspends BGL From Capital Market Operations by Nobody: 2:32pm On May 21, 2015 |
Please any one with information whether SEC collects I.T students? |
Re: SEC Suspends BGL From Capital Market Operations by Pavore9: 2:32pm On May 21, 2015 |
what about their clients? |
Re: SEC Suspends BGL From Capital Market Operations by AnneMomoh: 2:33pm On May 21, 2015 |
the company is so classy from the outside, seems from the inside it was "rotten" 2 Likes |
Re: SEC Suspends BGL From Capital Market Operations by ElFenomeno1: 2:34pm On May 21, 2015 |
Albert Okumagba and co have ruined that company and plundered investor's funds. I hope their assets are confiscated as well....... I am sure his Banana Island asset was acquired with investor's funds. Mounir Gwarzo is definitely putting it down... strict and principled man.... I am confident he will sanitise the capital markets and restore credibility within SEC |
Re: SEC Suspends BGL From Capital Market Operations by pro2010: 2:37pm On May 21, 2015 |
davide470: This is long over due. People don't know half of what the MD's of financial houses do with their funds. BGL has been in deep shit for a very very long time. They are neck deep in debt as a result of wrong investments and weak financial control. You be awed if you know the whole story. Their saving grace has been Okumgba who's influence is obviously weaning. |
Re: SEC Suspends BGL From Capital Market Operations by AIREGIN360(m): 2:38pm On May 21, 2015 |
Mehn, this serious. Hope the issue is sorted soon |
Re: SEC Suspends BGL From Capital Market Operations by kilokeys(m): 2:39pm On May 21, 2015 |
when we mention stock market i can only imagine stock fish in the market.. esp in a country like ours where council members of the NSE could manipulate prices for thier selfish gains if they wanted to. a lot of diverted funds. and little or nothing is done to protect investments of citizens.. but besides what is stock market when our industries are non existent? |
Re: SEC Suspends BGL From Capital Market Operations by pro2010: 2:42pm On May 21, 2015 |
Yes 8 Likes 1 Share |
Re: SEC Suspends BGL From Capital Market Operations by feelamong(m): 2:43pm On May 21, 2015 |
na wa o! hope they get to recover all from Okumagba and his cronies.. |
Re: SEC Suspends BGL From Capital Market Operations by miqos02(m): 2:51pm On May 21, 2015 |
used to respect the md |
Re: SEC Suspends BGL From Capital Market Operations by ichidodo: 2:52pm On May 21, 2015 |
A ponzi scheme.. |
Re: SEC Suspends BGL From Capital Market Operations by ElFenomeno1: 2:53pm On May 21, 2015 |
SEC need to soft pedal... The key thing here is to recover some or most of the investor's funds BGL is finished no matter how you look at it .... From a reputation point of view or the tough sanctions already slammed on it! |
Re: SEC Suspends BGL From Capital Market Operations by pro2010: 2:58pm On May 21, 2015 |
ElFenomeno1: Their is no better way of protect the investor's funds in this case than this. Infact, this is coming too late. They would have mitigated a lot of rot had this come 3years ago! But then, this is been done for personal reasons. |
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