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SEC pledges commitment to initiatives that spur investors’ confidence

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6 years ago

May 17, 2018

Olu Emmanuel

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By Chioma Obinagwam

Ag. Director General of Securities and Exchange Commission (SEC) Ms. Mary Uduk has reiterated the determination of the current management of the Commission to improve investors’ confidence through various initiatives currently being implemented as part of the Ten Year Capital Market Master Plan.

Uduk stated this in Abuja when she was honoured by the West African Student Union Parliament (WASUP) for Exemplary Leadership.

She disclosed that as the head of the Apex Regulatory body of the Nigerian Capital Market, she would along with her team, continue with implementation of policies that will deepen the market and boost the Nigerian economy.

She said: “The Master Plan will continue to be our working document and we shall continue to implement initiatives that will promote investors’ confidence such as e-Dividend registration, Direct Cash Settlement, Dematerialization, Complaint Management Framework, Financial Literacy and Investors’ Protection Fund, among others.”

The Ag. DG therefore enjoined investors who are yet to register for e-dividend and those that have not yet regularized their multiple accounts to do so.

“Forbearance window for shareholders with multiple accounts has now been extended to September 2018. Registrars have acknowledged that investors have started coming forward but there are still some challenges in the process. We are working hard to address those challenges and that is why we encourage all affected investors to come forward and take advantage of the window before the new deadline,” she said.

Speaking earlier, representative of the Chairman of the Union, Kobehi Kossa commended the Ag. DG on her efforts so far in restoring investors’ confidence in the market thereby leading to economic growth.

Kossa said the aim of the union is to promote the welfare of African students, in serving as a school for the training of political cadres and leaders, in raising the political and national consciousness of the West African people.

In view of the above, the Union pleaded with the Ag. DG to use her good office and position to assist the Union realize its dream in sensitizing the public especially the youth to engage them in activities that will not only contribute to the development of the economy but also empower them.

According to Kossa, the WASUP Exemplary Leadership Award is an honor for the contributions of individuals as ‘Icon of Nation Building and Development’ in Nigeria.

However, Uduk’s recognition, he noted, is in her outstanding strides in championing effective service delivery, immense contributions to nation building, administrative prudence, societal development, Staff/workers welfares, self & dedicated services to civil service profession and her contributions to the Nigerian capital market which immensely contributes to the development of the Nigerian economy amongst others.

Furthermore, the Union identifies role models from outstanding institutions and mentors of life through a certified administration of many years’ experience in Leadership/civil service professions, distinguished personality and an outstanding Nation Builder per excellence.

The West African Students Union (WASU) was founded in 1925 in London. Membership was initially restricted to students from British territories in West Africa. However, from 1928 onwards, under the influence of Pan-African ideology, all students of African origin could join, although students from West Africa, especially Nigeria, dominated WASU and its activities. The founding members of WASU saw themselves as ‘conservatives’, and stated that they would pursue their objectives through peaceful, legal, and constitutional means.

The Award presented to DG SEC was by 5 delegates of the WASU association that come from different African countries including Paul Matthew (Ghana), representing the President of the Union, Kobehi Kossa (Cote d’Ivoire), Francisca Totti (Cameroun) the Deputy Speaker, Yusuf Yahuza (Abuja) and Mbatsar Kennedy (Plateau).