What a big dent on a once-upon-a-time illustrious career!
Capital market big boy and BGL Plc boss, Albert Okumagba, between now and the next 20 years, will not have anything, officially, to do with the stock market.
The Securities and Exchange Commission just banned him and his deputy, Chibundu Edozie, for 20 years. Not only that, they will also cough out N2.108 billion as fine.
Accused of contravening market rules, BGL Securities and BGL Investments equally had their operating licenses withdrawn. And may even be subjected to prosecution.
Okumagba, from Delta State, alongside his brother, used to be champions in their sector. But now this.
More details later…