Nigeria’s SEC orders capital market firms to restrict dealings with Iran, two other countries

Nigeria’s Securities and Exchange Commission, SEC, has ordered superior marketplace firms to suspend dealings with fiscal institutions successful North Korea, Iran and Myanmar.

The SEC issued the directive successful a circular released connected Friday to listed entities and different Capital Market Regulated Entities, CMREs, citing the Financial Action Task Force, FATF.

Accordingly, the SEC explained that the determination was successful enactment with FATF measures concerning jurisdictions posing important wealth laundering, coercion financing and proliferation financing risks nether the Investments and Securities Act (ISA) 2025.

For North Korea, the committee directed CMREs to terminate analogous banking relationships with fiscal institutions incorporated in, owned oregon controlled by persons oregon entities successful the country.

“Ensure that nary subsidiar...