SEC Lifts Suspension On Cowry Asset Management

Yemisi Izuora
In its avowed commitment to entrench transparency and retain investors confidence in Nigeria’s economy through vibrant capital market operations, the Security and Exchange Commission (SEC) has lifted the suspension placed on Cowry Asset Management limited.

The SEC has warned of handing down penalties as prescribed by the law to market operators who violate laid down rules.

In announcing the lifting of the suspension the commission said, “This is to notify the investing public that Cowry Asset Management Limited has satisfactorily fulfilled its underwriting commitment in accordance with the provisions of the Investment and Securities Act 2007 as well as the Rules and Regulations of the Securities and Exchange Commission.

The suspension earlier placed on the firm’s issuing house function has therefore been lifted effective today, 10thSeptember, 2015”.

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