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Federal High Court Dismisses BGL Cases Against the Securities and Exchange Commission

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The Federal High Court sitting in Lagos has delivered its judgments on the three cases filed against the Commission by BGL Plc, its sponsored individuals and subsidiaries. The cases BGL had brought before the Lagos High Court against the Commission are:

I. FHC/L/CS/767/2015 BGL PLC & 4 ORS VS SECURITIES AND EXCHANGE COMMISSION

II. FHC/L/CS/1050/2015 BGL PLC & 12 ORS VS SECURITIES AND EXCHANGE COMMISSION & 2 ORS

III. FHC/L/121/2016 BGL ASSETS MANAGEMENT LIMITED & 22 ORS VS SECURITIES AND EXCHANGE COMMISSION & ANOR

In its rulings, the Court dismissed all the above cases “for being incompetent”, handing a major victory to the regulatory and investor protection mandates of the Commission.

Signed:

Management

31st October, 2016

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Regulator Information

Abbreviation: SEC NG
Jurisdiction: Nigeria

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