The Nigerian capital market’s top watchdog, the Securities and Exchange Commission (SEC), has withdrawn the suspension it placed on BGL Securities Limited and BGL Asset Management in May 2015.
“Suspension is lifted from BGL Securities and BGL Asset Management,” the SEC confirmed in its response to PREMIUM TIMES’ inquiry into the registration status of the two entities, which the regulator banned eleven years ago over allegations of capital market infractions.
According to a letter signed by Hafsat O. Rufai, the director of Registration, Exchanges and Market Infrastructure Department at the commission, on 17 April 2025, to the managing director of BGL Securities Limited, seen by PREMIUM TIMES, the SEC approved the registration of the company as a broker/dealer in the capital market effective from the same date.
In another letter, signed by the same official, dated 22 November 2024 and seen by PREMIUM TIMES, the regulator confirmed its approval of the registration of BGL Asset Management Limited as a fund/portfolio manager in the capital market with effect from the same date.
The SEC noted that it approved the registration of both companies following their successful performance in interviews conducted by the commission.
