The Securities and Exchange Commission (SEC) has revoked the licenses of 53 Fund Management Companies.

According to the SEC, the revocations were done pursuant to Section 122 (2) (b) of the Securities Industry Act, 2019 (Act 929) which authorizes SEC to revoke the license of a market operator under some circumstances.

SEC, in a statement explained that the revocation follows the companies’ failure to “return client funds which remain locked up and in a number of cases, have even folded up their operations.”

Here is the full list of the affected institutions 

  1. All-Time Capital Partners Limited
  2. Alpha Cap Securities Limited
  3. Axe Capital Advisors Limited
  4. Apex Capital Partners Revoked
  5. Beige Capital Limited Revoked
  6. Brooks Asset Management Limited
  7. Cambridge Capital Advisors Limited
  8. Canal Capital Limited Revoked
  9. Corporate Hills Investment Ltd.
  10. Dowjays Investment Limited
  11. EM Capital Limited Revoked
  12. Energy Investments Limited
  13. Fromfrom Capital Limited
  14. Frontline Capital Advisors Limited
  15. FirstBanc Financial Services Limited
  16. Galaxy Capital Limited
  17. Gold Coast Fund Management Limited
  18. Gold Rock Capital Management Limited
  19. Goldstreet Fund Management Limited
  20. Global Investments Bankers Limited
  21. Heritage Securities Limited
  22. Ideal Capital Partners Limited
  23. Integrity Fund Management Limited
  24. Intermarket Asset Management Ltd
  25. Kripa Capital Ltd.
  26. Kron Capital Limited
  27. Legacy Financial Services
  28. Liberty Asset Management Limited
  29. Kamag Kapital Limited
  30. Mak Asset Management Limited
  31. Man Capital Partners Limited
  32. Mec-Ellis Investment(Ghana) Limited
  33. McOttley Capital Limited
  34. Monarch Capital Limited
  35. Mutual Integrity Assets Management Limited
  36. Nesst Capital Limited
  37. Nickel Keynesbury Limited
  38. Nordea Capital Limited
  39. Omega Capital Limited
  40. Procap Finance Company Limited
  41. QFS Securities Limited
  42. SGL Royal Kapita Limited
  43. Sirius Capital Limited
  44. Strategic Hedge Capital Limited
  45. Standard Securities Limited
  46. Supreme Trust Capital Limited
  47. Tikowrie Capital Ltd.
  48. Unisecurities Limited
  49. Universal Capital Management
  50. Ultimate Trust Fund Management Ltd.
  51. Utrak Capital Management Limited
  52. Wealth Vision Financial Services Limited
  53. Weston Capital Limited

Voluntary Cessation

  1. HFC Capital Partners Limited
  2. Attai Capital Limited
  3. Serengeti Capital Limited
  4. Indigo Investment Management Limited
  5. Verit Investment Advisory Limited

Citi News


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