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SEC Sets Deadline for Payment of Regulatory Fees

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SEC Fixes Bond Fees at 0.025% From Jan 1, 2022

 

By Edozie Obasi-Eze

The Securities and Exchange Commission (SEC) has demanded payment of the annual supervisory due to it fee from all fund managers.

A circular on the subject released by the Commission January 21, 2021 an updated December 20, 2021 made it mandatory that the fee became effective January 1, 2022 and must be complied with on or before January 31, 2022.

By the circular, all registered Fund/Portfolio Managers were instructed pay to “the SEC Rule on Annual Supervision Fees for Collective Investment Schemes (CIS) and Regulatory Fees for Discretionary and Non-Discretionary Funds/Portfolios.”

It clarified that the fee would be based on Net Asset Value (NAV) as at December 31st 2021.

According to the Commission, “The payment for 2021 annual supervisory fee shall be based on the value of Net Asset Value (NAV) as at December 31st 2021 and Annual
Regulatory fee for Discretionary and Non-Discretionary Funds/portfolios”.

It was gathered from the circular that the Annual Supervisory fee for Collective Investments Schemes (CIS) under Management shall be 0.2 per cent of the Net Asset Value (NAV) of CIS under management, which would be computed and accrued daily for each CIS.

In addition, the circular made it clear that all fund managers shall pay the annual supervisory fee to the Commission not later than 31st January of every year and that the payment for 2021 annual supervisory fee shall be based on the value of NAV as at December 31st 2021.

On the consequences of default in meeting the January 31 deadline, the circular stated, “Accordingly, Funds/portfolio managers should note that late payment will attract a penalty of N100,000 and a daily sum of N5,000 for every day of default, or such other stiffer penalty as the Commission may determine.”

International News

Pope Francis To Return To Vatican After Month-Long Treatment

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Pope Francis To Undergo Emergency Hernia Surgery

Pope Francis will on Sunday be discharged from Rome’s Gemelli hospital, where he has been receiving treatment since February 14 for breathing difficulties and pneumonia.

The 88-year-old pontiff will return to his residence at Saint Martha’s House in the Vatican, where doctors have advised that he undergo “a long convalescence… of at least two months.”

Speaking to reporters on Saturday, Dr. Sergio Alfieri explained that while the pope’s health is improving, further recovery is best achieved at home.

READ ALSO: Pope Francis’ Condition Improving, Says Vatican

“Further progress will take place at his home, because a hospital — even if this seems strange — is the worst place to recover because it’s where one can contract more infections,” Alfieri said.

Dr. Luca Carbone, another physician at Gemelli, added that there are positive signs in the pope’s condition. “We hope that he will soon be able to resume his normal activities,” he stated.

Before leaving the hospital, Pope Francis is expected to greet the public and offer a blessing from a hospital balcony after the Angelus prayers on Sunday, marking his first appearance in weeks.

Speculation about a possible resignation has been circulating due to the pope’s prolonged absence from public duties, but Vatican officials have firmly denied such claims.

When asked if the topic had been discussed, Vatican Secretary of State Pietro Parolin was clear in his response: “No, no, no, absolutely not.”

The pope, who had part of a lung removed in his youth, has received an outpouring of prayers and well-wishes from Catholics worldwide.

Supporters have been gathering outside Gemelli hospital, leaving flowers, candles, and messages of encouragement.

His hospitalization, the longest of his papacy has led to questions about how Easter celebrations will be handled in his absence.

However, Vatican officials remain optimistic about his gradual return to his duties in the coming weeks.

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NEWS

Ifon-Ilobu Crisis: Adeleke Assures Of Quick Restoration Of Peace

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Ademola Adeleke Becomes Sixth Executive Governor of Osun State

 

Osun State Governor, Senator Ademola Adeleke has assured the people of Ilobu and Ifon communities that speedy conflict resolution steps are being taken to restore peace even as he expressed directed the emergency services agency to activate its operations

He gave the assurances in response to a Save Our Soul message from the people of Ilobu and Ifon.

Gov Adeleke said his administration has re-strategized on resolving the conflict with multiple peacebuilding options which are being unveiled and implemented.

“I assure the people of Ilobu and Ifon that I am committed to securing their lives and properties. I have updated the presidency of development in the state. We are on top of the situation”, the governor was quoted as saying.

ALSO READ: Okpebholo Joyful As Work On Edo State’s 1st Flyover Bridge Reaches Advanced Stage

Meanwhile, we seek to bring to the attention of the public that old videos of communal conflicts in some parts of Osun state are being circulated by opposition elements to spread false pictures of insecurity in Osun State.

While the ongoing conflict is regrettable and while all hands are on deck to stop the violence, we inform the public to take note of the activities of fake news merchants who are digging up old videos to discredit the state government.

The videos being circulated of violence in other towns and villages in Osun are fake news and should be disregarded by the members of the public.

Gov Adeleke has stepped up conflict de-escalation moves on Ifon- Ilobu conflict, imposing a 24-hour curfew, mobilising joint security task force and hosting a peace deal between the two warring communities.

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Ifon-Ilobu Communal Dispute: Adeleke Extends Curfew To Erin-Osun Town

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Four gang-killed two in Osun, destroy N8M properties

 

Following the escalation of the crisis between the warring communities of Ilobu and Ifon, Osun State Governor, Senator Ademola Adeleke has approved that the curfew be extended to Erin-Osun town.

According to a government house statement in Osogbo, on Saturday, the curfew time is now 24 hours daily.

The statement has it that this is as the Governor directs all security agencies such as the Military, Nigeria Police, Nigeria Security and Civil Defence Corp NSCDC, Immigration, NDLEA, and AMOTEKUN among others to extend its security surveillance to the community.

ALSO READ: Okpebholo Joyful As Work On Edo State’s 1st Flyover Bridge Reaches Advanced Stage

All the security agencies are to ensure strict compliance to the curfew, which is now 24 hours daily until peace is restored.

The imposed curfew was necessary to forestall escalation of the crisis and breakdown of law and order due to the communal clashes in the communities.

According to the statement by Commissioner for Information and Public Enlightenment, Kolapo Alimi, where Governor Adeleke was quoted as expressing dissatisfaction over the resurgence of the crisis in the warring communities. The curfew on Ifon-Ilobu Communities has now been extended to the Erin-Osun community until further notice.

“His Excellency, Governor Ademola Adeleke is saddened at the escalation of the communal clashes between Ilobu and Ifon communities.

“To ensure that the crisis is curbed in the environment, the Governor has approved that the curfew be extended to Erin-Osun community and the curfew time is now 24-hours daily, effective immediately (today March 22, 2025) until further notice.”

Gov Adeleke has further directed that the joint security team comprising the Nigerian Army, Nigerian Police, Nigerian Immigration Service, the Nigeria Security and Civil Defence Corps, NDLEA and AMOTEKUN among others to continue to maintain their usual 24-hour surveillance and forestall breakdown of law and order.

“The Governor expresses his sympathy on lives and property lost in the escalated communal crisis and assures that perpetrators will face the wrath of law,” he said.

He added that “Osun State is a place of peace and harmony, and the government will not allow it to be truncated. This communal clash has to stop now, and we will ensure that it happens.

“I urge everyone to imbibe the ethos of Omoluabi and shun communal crisis, embrace peaceful co-existence as brothers and sisters, the statement concludes.

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