List of Banned individuals
List of Individuals Banned From All Capital Market Activities (As at March 2011)
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NAME OF INDIVIDUAL/OPERATOR |
DATE OF BLACKLISTING |
MATTER / REASON FOR BLACK LISTING |
DURATION |
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Bonkolans Investment ltd. |
30-Jan-03 |
APC/21/2002: Fraudulent sale of shares, forgery and manipulative contrivances in the matter of Bonkolans Investments Limited |
Blacklisted and Banned for life |
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Lawrence Okwufulueze of Bonkolans Investments Ltd |
30-Jan-03 |
As above |
“ |
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Charles Nkenchor of Bonkolans Investments Ltd |
As above |
As above |
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Sylvester Ezeagusu of Sikon Securities |
“ |
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Wilson Obueh of Peak Securities Ltd |
“ |
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Abdul Rauf Ayodeji of FIS |
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Joseph Omogbai of Bonkolans Investments Ltd |
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Baruwa Hameed of CSCS |
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Augustine Onyekachi Ebadan of CSCS |
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Yibis Ritgar Gotar of CSCS |
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Emmanuel Iwuno of CSCS |
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Wole Adeshina of Gossord Securities ltd |
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Dele Ashiru |
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Peter Ukadilonu |
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John Igbasanmi |
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Muyiwa Aboloye |
“ |
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“ |
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M. Anyanbule |
12-Nov-03 |
APC/20/2002: Mrs. O.O. Abiodun v Nigbel Securities Ltd- Failure to purchase shares paid for and illegal sale of client shares without mandate. |
For life |
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Alhaji Umar Abba Gana |
19-Apr-04 |
APC/22/2002: SEC V African Petroleum Plc – Failure to disclose material facts (debts) in prospectus and negligent auditing of the company. |
Banned indefinitely. |
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M.C. Ajayi |
19-Apr-04 |
“ |
Banned indefinitely |
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Michael Adegbusi |
4-Aug-04 |
APC/25/2003: SEC V Micheal Adegbusi & UACN Pls Ors – Fraudulent alteration of shareholders account and forgery of UAC Nig. Plc share certificates. |
Blacklisted and Banned for life. |
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Amaeze Olisaemeka |
“ |
“ |
“ |
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Sir Kingsley Ikpe |
18-May-04 |
APC/1-9/2004: Complaints against Thomas Kingsley Securities Ltd – Failure to purchase shares paid for, illegal sale of securities without authorization. |
Blacklisted and banned for life. |
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Riverside Trust ltd. |
2004 |
Engaging in illegal activities and failure to pay N100,000 penalty |
Indefinite suspension. |
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Ola Oyerinde |
2004 |
Administrators of the Estate Pa Ajanaku V Nigbel Securities & 10 ORS Fraudulent transfer/sale by Nigbel of shares in the estate of Pa. Ajanaku valued at over N200 million |
Banned for life. |
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Gabriel Abegim Adah |
2004 |
APC/7/2004: Concerned Capital Market Investors V Thomas Kingsley Securities Ltd – Illegal sale of investors’ shares and misappropriation of investors’ funds. |
Banned for life. |
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Jenkins Investment Ltd |
2004 |
Non remittance of SEC fees to the Commission. |
Indefinite suspension. |
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Lt. Gen. Salihu Ibrahim |
6-Apr-06 |
APC/1-22/2005: 22 Complaints against Asset Plus Securities Ltd. - Illegal sale of client shares and failure to purchase shares paid for. |
Banned for life. |
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Oluwole Ogbonyomi |
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Modupre Grace Gabriel |
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Adebisi Jacob Olawepo |
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Salifat Atinuke Agboola |
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Jim Ogugua |
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Raphael Lewu |
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Femi Okufuwa |
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Asset Plus securities Ltd. |
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Ishaq Olakunle Sanni |
18-Jun-09 |
APC/1/2008: Illegal Sale of Afroil Shares – Illegal sale of afroil warehoused shares |
Banned for life. |
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Bunmi Oni |
28-Mar-08 |
APC/1/2007: Misstatement of Published Accounts of Cadbury Nig. Plc - Financial misstatements in the 2002 – 2005 Audited Annual Report and Accounts of Cadbury Nig. Plc to the tune of over N4 billion |
Banned for life. |
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Ayo Akadiri |
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J.S.T. Bogunjoko |
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Disqualified from capital market activities for 5 years commencing April 2008 - |
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Abiodun Jaji |
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Andrew Baker |
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Christopher Okeke |
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Edward Koki |
18-Jun-10 |
APC/2-245/2008: SEC V ALLIANCE CAPITAL MANAGEMENT CO. LTD – 244 Complaints bordering on non-purchase of shares, non-remittance of sale proceeds, unauthorized sale of clients’ shares amongst others. |
Banned for life. |
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Tiamiyu Bodunde |
4-May-11 |
APC/6-42/2009: SEC V EMPIRE SECURITIES LTD - Failure to purchase clients shares, failure to verify and lodge clients’ shares and failure to remit clients proceeds of sale. |
Banned for life. |
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Adeshina Ekundayo |
“ |
“ |
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Proforte Investment Ltd. |
23-Feb-11 |
APC/66-194/2011: SEC V PROFORTE INVESTMENT LTD. 129 complaints for failure to pay capital and interest on investments and misappropriation of monies invested with the 1st Respondent. |
Registration withdrawn. |
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Komolafe Damilola |
“ |
“ |
Banned for life. |
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Olatubosun David |
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Abodunde Abiodun |
“ |
APC/2-64/2010: SEC V DAVANDY FINANCE AND SECURITIES LTD. - 63 Complaints for failure to pay capital and interest on investments as Fund Managers; failure to purchase shares paid for by clients; failure to verify and lodge shares as mandated by their clients; failure to carry out various instructions; failure to remit proceeds of sale and non-receipt of dividends / bonuses in respect of the un-purchased stocks. |
Banned for life. |
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Alhaji Gidado Mukhtar |
19-Apr-04 |
APC/22/2002: SEC V African Petroleum Plc – Failure to disclose material facts (debts) in prospectus and negligent auditing of the company. |
Banned for 3 years from April 19, 2004. Ban lifted in May 2007. |
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Isaac Fatade |
2004 |
APC/43/2004: SEC v UTB & Ors. - Irregular allotment of shares and alteration of the allotment proposal by SEC |
Banned for 3 years from 2004. Ban lifted in 2007. |
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Olusegun Aina |
“ |
APC/1/2007: Misstatement of Published Accounts of Cadbury Nig. Plc - Financial misstatements in the 2002 – 2005 Audited Annual Report and Accounts of Cadbury Nig. Plc to the tune of over N4 billion. |
Disqualified from capital market activities for 3 years commencing April 2008 – Ban lifted in May 2011. |
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Akinbode Gbolahan |
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Tuned Egbeyemi |
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Olatunde Falase |
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Disqualified from capital market activities for 1 year commencing April 2008 – Ban lifted in May 2009. |
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Raymond Ihyembe |
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Gabriel Onabote |
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Olusegun Oyewole |
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Matthew Shattock |
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Koji Drambi |
“ |
APC/2-64/2010: SEC V DAVANDY FINANCE AND SECURITIES LTD. - 63 Complaints for failure to pay capital and interest on investments as Fund Managers; failure to purchase shares paid for by clients; failure to verify and lodge shares as mandated by their clients; failure to carry out various instructions; failure to remit proceeds of sale and non-receipt of dividends / bonuses in respect of the un-purchased stocks. |
Barred for 10 years commencing April 2008 – ban to be lifted in May 2018. |
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Kasimi Sodangi |
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Barred for 10 years commencing April 2008 – Ban to be lifted in May 2018 |