SEC Investigates Complaints of Chief Opral Benson and Ngozi Nwachuku against WT Securities Ltd

Proshare

Tuesday, June 07, 2016 8:37AM /SEC

The Securities and Exchange Commission is investigating complaints relating to the mismanagement of Chief Opral Mason Benson’s stocks valued at N185,203,360.00 and unauthorized sale of 500,000 units of NB Plc shares belonging to Ngozi Oyekwere Nwachuku.

A preliminary investigation carried out by the Commission revealed that WT Securities Ltd. 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 WT Securities Ltd. 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. Aisha I. Lawal
  2. Taofik A. O. Lawal
  3. Barrister Ajinamo Umma Hanni


Sponsored Individuals:

  1. Lawal Taofiq Ayorinde O
  2. Amakude Cosmas Madu
  3. Lawal Aisha Iyabo – Compliance Officer


The aforementioned meeting is scheduled to hold as follows:

Date:                         June 7, 2016

Venue:                    Board Room (6th floor)

                                   Securities & Exchange commission

                                   Plot 272, Samuel Ademulegun Adesujo Street

                                   Central Business District, Abuja


Time:                        11.00 a.m. prompt

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

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