Dialectic Africa Analyst

Dear Africa interested professionals:                                                      Find below the verbatim text from the SEC about the Brokerage Scandal in Nigeria.  This is classic example of the grandiose speeches  I mentioned in my last article that are more focused on self than transparency.  The SEC's response is largely defense and pacifying rather than providing clarity and answering questions.   Why did the media have to break a story more than four months after SEC knew about it?   Now, the SEC wants to respond and feel it is being proactive and transparent.  This issue will be buried before you can dig six feet.  It is Nigeria; nothing of this nature is new. People are talking as I write and the hook is gradually being removed from the mouth of the fish.  Victor Ogiemwonyi will not be sentenced to jail for any financial crime.  He has enough people that sit at the top of regulatory bodies to get him off the hook.   This is why I continue to repeat; nobody

Dear Africa interested professionals:                                                           I have incessantly spoken out about no proper system of checks and balances within some African Financial Markets.  Individuals continue playing musical chairs with influential positions to ensure they continue to have control over the financial marketplace and preserve their business deals while expanding their business empire.   Remember in 2014, when Access Bank (against extant rules in place) tried to freeze its share price for four months while it embarks on a rights issue to "preserve shareholder value?"  The freeze was on for a week until Arunma Oteh (SEC DG) at the time intervened and forced the freeze to be reversed.  Diamond Bank had completed its rights issue a few months earlier without seeking preferential treatment.   Partnership Investment Securities (owned by Victor Ogiemwonyi )   is currently embroiled in a financial scandal involving aggrandizement of clie