The Nigeria Securities and Exchange Commission has cancelled Mainland Trust Limited’s registration as a capital market operator with immediate effect. The Commission cited the firm’s failure to comply with regulatory directives and the non-resolution of several complaints against it. The cancellation was made under Section 38(4) of the Investments and Securities Act 2007 and Rule 34(1)(e) of the SEC Consolidated Rules and Regulations 2013. Clients of Mainland Trust Limited are advised to contact the Central Securities Clearing System Plc for guidance on transferring their stocks to another stockbroker, and the Nigerian Exchange Group, the Institute of Capital Market Registrars, the Chartered Institute of Stockbrokers, the Central Securities Clearing System Plc and all capital market trade associations are directed to discontinue capital market-related dealings with the company.
Nigeria Securities & Exchange Commission 2025-03-14
Nigeria Securities and Exchange Commission cancels Mainland Trust Limited’s registration as a capital market operator with immediate effect
The Nigeria Securities and Exchange Commission revoked Mainland Trust Limited’s registration as a capital market operator due to non-compliance and unresolved complaints. This action was taken under Section 38(4) of the Investments and Securities Act 2007 and Rule 34(1)(e) of the SEC Consolidated Rules and Regulations 2013. Clients should contact the Central Securities Clearing System Plc for stock transfer guidance.