STANDARD UNION SECURITIES STILL UNDER SUSPENSION

SUSPENSION OF STANDARD UNION SECURITIES LIMITED FROM ALL CAPITAL MARKET ACTIVITIES
The Commission has suspended Standard Union Securities Limited, a stock broking company based in Kano, from all capital market activities in Nigeria till further notice.
The company was suspended for collecting, verifying, and selling 2, 806 units of Oando Plc shares belonging to Nasiha Trade Association with the knowledge that the shares had been stolen and that the bearer (whom it later declared to be dead) was not the bonafide owner of the shares.
Furthermore, the company has been operating illegally in the Nigerian capital market since 2002 without valid registration by the Commission.
The suspension took effect from Wednesday, 25th July 2007 and will remain in force until this illegal operator has fully restituted the investor and regularized its registration with the Commission.
ALL INFORMATION QOUTED VERBATIM FROM SEC