Capital Market Committee Updates: 2nd Quarter Meeting Highlights

The Capital Market Committee addressed updates on the consolidation of accounts, progress reports submitted by members, and strategies for awareness campaigns through various channels including PEBEC platform, banking halls, and social media. The active engagement of stakeholders like registrars, stockbrokers, CBN, CHBO, and listed companies indicates a proactive approach towards enhancing transparency and compliance in the capital market.

• Capital Market
• Committee Updates
• Awareness Campaign
• Consolidated Accounts
• Stakeholder Engagement

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1. 2019 2NDQUARTER MEETING OF THE CAPITAL MARKET COMMITTEE UPDATES BY THE MULTIPLE SUBSCRIPTIONS TECHNICAL COMMITTEE

2. Submission of Periodic Progress Reports on Consolidated Accounts As part of implementation of the Committee s strategy, circulars were issued to both ICMR and ASHON members asking them to submit periodic reports of progress being made on the consolidated accounts; As at the date of preparing this update, 14 Registrars have filed their progress reports while 4 Registrars' reports are still pending; Out of about 172 active Stockbrokers, only 23 have submitted their reports. An analysis of the reports so far received, revealed that, since inception of the program, a total of 40,755 multiple accounts have so far been consolidated by the Registrars while 1,868 were consolidated by brokers, making a total of 42,623 multiple accounts; In terms of number of shares, the 42,623 consolidated accounts equated to 3.48 billion units of shares.

3. Exploration of PEBEC Platform for Enlightenment Campaign As part of effort to increase the visibility of the regularization exercise, the Committee is presently exploring the possibility of using the platform of Ease of Doing Business of the presidency (PEBEC) to drive the enlightenment campaign for the exercise. To this effect, engagement of the PEBEC Chairman, Dr. Oduwole, has been initiated. Progress on this initiative would be reported at the next CMC meeting.

4. Awareness Campaign Using Banking Halls Across Nigeria Contacts were established with the CBN and Committee of Heads of Bank Operations (CHBO) of Nigeria, with a view to securing the collaboration of the Nigerian Banks to display the multiple subscription awareness campaign banners in all the banking halls across Nigeria. We are pleased to report that, the CHBO has confirmed their willingness, in writing to the SEC, indicating its readiness to partner with the Capital Market community in this regard. The SEC is expected to finalise the logistics of giving effect to the collaboration. In a similar vein, at the SEC s request, Company Secretaries of all listed companies have agreed to display the awareness campaign banners in all the respective operational offices of their Companies across Nigeria, as well as on their websites.

5. Social Media Campaign Efforts A copy of the awareness campaign template/content, approved by the CMC during its last Meeting, has since been passed to the SEC Media Team to be adapted for deployment on social media handles/platforms (which are expected to include Facebook, Twitter, WhatsApp, Instagram and YouTube, among others).

6. List of Registrars that have filed their reports VERITAS PACE CARDINALSTONE EDC MERISTEM APEL CAPITAL GTL UNITED SECURITIES ATLAS CENTURION FIRST CARNATION AFRICA PRUDENTIAL UNITY

7. List of Stockbrokers that have submitted their reports APT Securities and Funds Limited Reward Investments and Services Limited De-Lords Securities Limited Sigma Securities Securities Africa Financial Limited Capital Care Trust and Securities Limited Compass Securities Signet Stockbrokers Rostrum Investment and Securities limited Magnartis Finance & Investment Limited Qualinvest Capital FBC Trust & Securities Limited Express Portfolio Services Limited Lead Securities & Investment Limited Prominent Securities Tyndale Securities Limited Planet Capital Golden Securities Limited Elixir Investment Nigerian Stockbrokers Limited Dynamic Portfolio Cowry Securities Limited Calyx Securities

8. Thank you Thank you