Business
SEC distances self from controversial Visionscape bond
The Securities and Exchange Commission (SEC) has reacted to the controversy trailing Visionscape Bond.
SEC, in a statement posted on its website, said it did not approve the bond.
It reads: “The attention of the Commission has been drawn to news media publications regarding the default in repayment on Visionscape Bond and the Commission’s role in the transaction.
“The Bond under reference was issued by Municipality Waste Management Contractors Limited, a private company promoted by Visionscape Sanitations Solutions Limited – under a N50Billion Medium Term Note Programme.
“Being an issuance by a private company, it was not offered to the public, but to qualified investors by private placement.
“The transaction was therefore not subject to the prior review and approval of the Commission and does not fall within its regulatory preview.
“In addition, the Bond was not certified as a Green Bond as portrayed by the media.
“The Commission wishes to assure the general public that it is committed to its duties of investors protection and ensuring an efficient, fair and transparent capital market.”
-
Football1 week agoFULL LIST: Eight stadiums to host 2027 Women’s World Cup in Brazil
-
Comments and Issues1 week agoWavy fuel prices and deepening cost-of-living crises in Nigeria
-
Business7 days agoDangote Refinery IPO: Can small investors really make money from the shares?
-
Business3 days agoCBN reduces MPR by 350bps to 23% in major monetary policy shift
-
Business5 days agoJetour takes T1 adventure SUV experience to Abuja, targets growing Nigerian market
-
Football5 days agoNigeria vs Colombia: Falconets battle for U-20 World Cup semi-final ticket
-
Football6 days agoBreaking:Brighton shocks Arsenal 3-0 as Gunners’ perfect start comes crashing down
-
Business5 days agoNMDPRA moves against petrol price gouging as pump prices rise to N1,450