How To Check If A Company Is Registered With SEC in Nigeria

Before engaging in any investment or business transactions, it’s crucial to verify a company’s registration with the Securities and Exchange Commission (SEC) in Nigeria. This ensures that the company is legally recognized and compliant with regulations, safeguarding you from potential fraud. Here’s how you can check if a company is registered with the SEC.

Contents

About SEC

The Securities and Exchange Commission (SEC) is the primary regulatory body overseeing the Nigerian capital market. Established in 1962, the SEC regulates the issuance and sales of securities, protects investors, and maintains fair and efficient markets. As the top financial regulator, it operates under the Federal Ministry of Finance.

How to Check if a Company is Registered with SEC in Nigeria

Here are three effective methods to verify a company’s registration status:

Check on the SEC Website
Visit the SEC’s official website at http://www.sec.gov.ng. The site features a database where you can search for registered companies. This information is routinely updated, usually within 24 hours of receipt.
Visit the SEC Office
If you cannot access the SEC website, consider visiting their office for assistance. The public reference room can provide information regarding a company’s registration status that may not be available online.Address:
SEC Towers, Plot 272, Samuel Adesujo Ademulegun Street, Central Business District, P.M.B: 315, Garki, Abuja.
Email: [email protected]
Phone: +234 (0) 94621100; +234 (0) 94621168
SEC also has regional offices in Lagos, Kano, and Port Harcourt.
Send a Mail to the Commission
Another option is to email the SEC at the address mentioned above. You can request information about a company’s registration status and ask for copies of public filings. Be specific about the documents or information you need, and the SEC will acknowledge your request and respond promptly.

Additional Notes

Ensuring Qualified Traders: The SEC ensures that only qualified individuals trade on the stock exchange through a registration process that must be renewed every two years. They monitor the activities of registered operators to ensure compliance with market rules.
Monitoring Operator Activities: The SEC conducts both on-site and off-site inspections to review the activities of registered operators. Operators are required to submit quarterly returns for scrutiny.

How to Register with the SEC in Nigeria

If you’re interested in registering with the SEC, you will need to prepare several documents and comply with specific requirements. Here’s a brief overview:

Requirements for SEC Registration

Completed Forms:
- Form SEC 5 for the company.
- Form SEC 2 and 2D for sponsored individuals/compliance officers, completed in duplicates.
Company Profile: Include a history, organizational structure, and details about principal officers.
By-Laws/Rules: Provide copies of existing or proposed by-laws, including codes of conduct.
Financial Documentation: Include proof of payment of assigned shares.

Fees for SEC Registration

Filing/Application Fee: ₦50,000
Processing Fee: ₦200,000
Registration Fee: ₦1,000,000
Sponsored Individual Fee: ₦50,000 for each sponsored individual

Conclusion

This article outlines the steps to verify if a company is registered with the SEC in Nigeria, emphasizing the importance of due diligence before any investment. By utilizing the SEC’s resources and understanding the registration process, you can protect yourself from fraudulent entities and ensure compliance with the law.