Nigeria’s capital market may soon transit from the manual-intensive, paper-based process of issuing securities to electronic offering. When the initiative is operationalised, shares will be issued and bought through electronic platforms and electronic devices, such as Unstructured Supplementary Service Data (USSD). The market regulators, operators and other stakeholders have endorsed the transition to electronic offering […] …
USSD
Electronic offerings to use USSD, mobile devices
The Securities and Exchange Commission (SEC) has released draft guidelines for transition to electronic offering of shares and other securities in the capital market. Electronic offering (e-O) is the use of internet or other electronic means, including mobile or Unstructured Supplementary Service Data (USSD) platforms to provide access to prospectuses, offering memoranda, subscription forms and […] …
Can USSD Daily limit of N100, 000 checkmate fraud?
The Central Bank of Nigeria, CBN, recently introduced guidelines for USSD transactions. Among other things the guidelines include daily limit of N100, 000 on USSD transaction, apparently in a bid to checkmate fraud through the channel. Some bank customers who spoke with Financial Vanguard shared the opinion about the limit
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