Complaints of Alhaji Abass Bolatitio O and 35 Others against Fittco Securities Limited

Monday, September 05, 2016 5:33pm / SEC

The Commission is investigating complaints relating to the unauthorized sale of shares belonging to Alhaji Abass Bolatitio O. and 35 Ors  by Fittco Securities Limited.

A preliminary investigation carried out by the Commission revealed that Fittco Securities Limited sold the complainants shares without authority and Management of the Commission has directed that the Firm, its Directors and Sponsored Individuals be invited to a meeting to explain their roles in the transaction.

Consequent upon the above, the under-listed Directors and Sponsored Individuals of Fittco Securities Limited are hereby invited to a meeting to show cause why they should not be sanctioned for violating the provisions of Rules 43 and 182A (1), (3) and (5) of the SEC Rules and Regulations.

Directors:

1. Francis Olusegun Alabi
2. Ibrahim Ahmed Rufai
3. Chika Mbonu Casimir

Sponsored Individuals:

1. George Damiete Mamuzo
2. Oyebade Patrick Titilayo
3. Folusho Olusegun Alabi

The aforementioned meeting is scheduled to hold as follows:
Date:  September 5,  2016

Time:    11.00 a.m. prompt

Venue:   Securities & Exchange commission, (4^th Floor Committee Room), Plot 272, Samuel Ademulegun Adesujo Street, Central Business District, Abuja

Please endeavour to go with all the relevant documents in relation with the complaints to facilitate the resolution of the matter.