SEC revealed this in a statement made available to Vanguard yesterday stressing that the Commission is statutorily mandated as the apex regulator of the Nigerian capital market to ensure the protection of investors and maintain a fair, efficient and transparent market.
It stated: “Recall that in 2008, the SEC conducted an investigation on Big Treat Plc a public listed company and its directors which revealed several infractions of the Investments and Securities Act 2007 such as inadequate internal control systems and a breakdown of corporate governance in the company.