Securities and Exchange Commission has suspended all physical meetings and visits to its offices till further notice, owing to the second wave of the COVID-19 pandemic.
A circular issued by SEC on Monday explained that it issued guidelines to regulate entities and capital market stakeholders.
In the circular, the SEC said the decision was to protect investors and not disrupt activities in the capital market, noting that its operations would now become fully electronic.
The commission, which described the directives as temporary, encouraged capital market operators and other stakeholders to conduct meetings and other engagements virtually.
It also advised public companies to take appropriate precautionary measures as recommended by the federal and state governments as well as the Nigeria Centre for Disease Control.
SEC said, “This is to ensure the safety of shareholders and participants at their Annual General Meetings and Extra-Ordinary General Meetings and other meetings, which might be held during the prevalence of the pandemic.
According to it, the adjustments became necessary to sustain the actualisation of SEC’s regulatory mandate and maintain the integrity of the Nigerian capital market during this challenging period.
“We will continue to issue updates to market stakeholders as appropriate and closely coordinate with other financial regulators and governmental authorities.
“For now, all applications should be made electronically to some dedicated email addresses.”