Business

SEC to intensify enlightenment process to drive financial inclusion

Published

9 years ago

August 27, 2017

By Chioma Obinagwam

The Securities and Exchange Commission (SEC) of Nigeria has said it would reinforce its enlightenment process to drive financial inclusion through the capital market.

The Director General (DG) of SEC, Mournir Gwarzo disclosed this at a press briefing held in respect of the second quarter Capital Market Committee (CMC) meeting held in Lagos recently.

“We need to sensitise the public. We believe strongly that the capital market and banking industry can drive the financial inclusion in the industry,” he said.

Gwarzo added that of the total number of investors in the capital market, 65 per cent are males whereas 35 per cent are females.

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The DG further stated that research has shown that the age groups between 20 and 35 years are not adequately investing in the capital market.

“We are coming up with a robust and comprehensive initiative. In our publicity, we are going to do things that would capture the female folks and the younger generation,” he added.

The SEC has been in the forefront of driving financial inclusion as well as encouraging investments in the economy through the capital market with its latest feat being the e-dividend mandate.