The Securities and Exchange Commission, SEC, announced that it will restrain fintech startup, Chaka Technologies Limited, and its promoters from advertising or offering for sale shares, stock or other securities of companies or other entities.
This was disclosed in a statement by the SEC on Saturday evening. SEC said its Investments and Securities Tribunal (IST) gave an interim order on Thursday, 17th December 2020.
SEC said the interim order applies to all Chaka platforms, citing that the startup carried out operations outside the regulatory purview of the Commission and without requisite registration.
The interim Orders, which apply to all Chaka platforms, were granted pursuant to an application by the Securities and Exchange Commission.
The Debt Management Office (DMO) said on Thursday that it has listed its third sovereign Sukuk, N162.557bn 7-year 11.200 per cent AL Ijarah Sovereign Sukuk due 2027, on the Nigerian Stock Exchange and the FMDQ Securities Exchange.
This disclosure is contained in a press statement titled ‘Listing of N162.557bn 7-Year 11.200 per cent Al Ijarah Sovereign Sukuk due 2027 on the Nigerian Stock Exchange and FMDQ Securities Exchange’, issued by the DMO on Thursday, March 19, 2021, as can be seen on its website.
The statement says that the Sukuk, which at the time of issuance was massively subscribed to the tune of N669.124bn or 446 per cent, was issued to finance 44 economic road projects across the 6 geopolitical zones, it stated.