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SEC chairman calls for cooperation among stakeholders



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Olufemi Lijadu, the chairman of the board of the Securities and Exchange Commission (SEC) on Wednesday called for more cooperation among stakeholders for the overall interest of the capital market and the economy generally.

Speaking at a meeting between the board and stakeholders in the capital market in Lagos, the SEC board Chairman said there was need for all to work together.

“Operators and the apex regulator have the same interest and expressed the need for all to work together in the overall interest of the market and the economy. We need money to develop our economy and to get the money we need to attract investors both local and foreign. To be able to attract them, our markets need to have the basic rules that are obtainable anywhere else in the world by aligning ourselves with best practices internationally,” he said.

Lijadu said the board was ready to listen and be accessible to market operators, saying,

“You are there in the market and can give us that sensitivity of what the market is feeling and can give us that direction to frame our policies in the interest of the market,”

He expressed confidence about the level of knowledge and professionalism of stakeholders in the market, adding that by the time views and suggestions from the interaction were put together the market would arrive at some solutions.

“We are key pillars in the ability of our country to find solutions to its developmental needs by attracting relevant funding, together we can make our country great” he added.

In a welcome address, Mary Uduk, acting director general of SEC, commended the stakeholders for the support they extended to the commission in the period the SEC operated without a board and urged them to continue with the support.

“You are the ones that provide us with guidance as to the direction the market should go because you are the ones at the forefront and know it firsthand. We are happy that we have agreed to be with us here today. We are here today to rub minds with you and further solicit your co-operation in all that we intend to do to deepen the market,” she said.