The Securities and Exchange Commission (SEC) signed a memorandum of Understanding (MOU) with the TanzanianCapital Market and Securities Authority (CMSA) in December 2005.

•Government Firms Raises N500 billion from Capital Market as Cost of Funds Crashes

Cost of funds is the amount incurred in raising fresh funds from the market. It is expressed as a percentage of gross proceeds of an issue. The Commission’s fees in particular recorded a commendable decline falling from 0.69 percent in 2000 to 0.6 percent in 2004.

About a half trillion naira was raised by government and corporate bodies from the Nigerian Capital Market between 2000 and 2004 as a cost of raising fresh capital declined to an all time low of 5.72 percent in the period.

This development is a reflection of positive results of the efforts of the Securities and Exchange Commission (SEC) at reducing cost of funds in the Capital market to attract more funds seekers.

A study recently concluded by the apex regulator of the Nigerian Capital Market has shown that average cost of funds in the capital market which stood at 14.5 percent in the 1900s has suddenly crashed to 5.72 percent between 2000 and 2004 in apparent fallout to the Commission’s deliberate to reduced cost of funds.

According to the study of the Commission, average percentage of cost of raising funds in the market dropped impressively between 2002 but increased marginally in 2004. Against the relatively high cost of the 1990s, the average cost of fresh funds in the market declined to as low as 4.07 percent in 2000, 5.69 percent in 2001, rose marginally to 5.82 percent in 2002 and declined to 5.59 percent in 2003 and inched to 5.72 percent in 2004.

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•SEC to Commission its Newly Acquired Head Office

The new administration of Musa Al-Faki (SEC DG) has finally broken the jinx of the Commission’s inability to acquire its own permanent accommodation since inception in 1980.

The new Head Office which is situated in the Central Business Area, Abuja is more spacious and accommodating.

The commissioning of the Head Office will be done by President Olusegun Obasanjo in the first quarter of 2006.

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•NEW PUBLICATIONS

1. SEC Quarterly. FREE

2. Statistical and Economic Bulletin. Volume 1. N1,000.00

For more information on how to get a copy, Email us at: secdatabank@sec.gov.ng

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•Current Fresh/ Renewals of Registrations:

The Commission registered 41 new market operators from August to November 2005…… (Click to view), and to view all the registered market operators in the Nigerian Capital Market Click Here

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•NEW PUBLICATIONS Now VAILABLE

2. Statistical and Economic Bulletin. Volume 1.    =N=1,000.00

For more information on how to get a copy, Email us at: secdatabank@sec.gov.ng

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