SEC suspends Centurion Registrars from capital market activities over ‘unresolved complaints’

The Securities and Exchange Commission (SEC) has suspended Centurion Registrars Limited, along with its sponsored individuals and directors, from all capital market activities with immediate effect over “unresolved complaints”.

In a statement dated March 14, 2025, SEC said the suspension was in line with its powers under Section 38(4) and (5) of the Investments and Securities Act, 2007, and Rule 34(1)(e) of the SEC Consolidated Rules and Regulations, 2013.

“The commission’s decision is informed by the company’s failure to comply with regulatory directives and non-resolution of several complaints against it,” the SEC said.

“All clients of Centurion Registrars Limited are advised to contact Africa Prudential Plc for appropriate guidance on the transfer of their portfolios to another Registrar of their choice.”

The commission also directed the Nigerian Exchange Group (NGX), the Institute of Capital Market Registrars (ICMR), the Chartered Institute of Stockbrokers (CIS), the Central Securities Clearing System (CSCS) Plc, and all capital market trade associations to discontinue all capital market-related dealings with Centurion Registrars and its principal officers.

Also, on March 14, the SEC said it has cancelled the registration of Mainland Trust Limited as a capital market operator with immediate effect for “regulatory violations”.