Business

SEC reiterates commitment to robust capital market

Published

8 years ago

July 16, 2018

By Chioma Obinagwam

The Securities and Exchange Commissio (SEC) has restated its dedication to collaborate with relevant stakeholders to further develop and deepen the capital market.

The Ag. Director General of the Securities and Exchange Commission, SEC, Ms Mary Uduk stated this when members of the association of Stockbroking Houses of Nigeria (ASHON) met with Management of the SEC in Abuja, weekend.

Uduk noted that a well-functioning capital market was essential to Nigeria’s economic development, and to realise its full potential, the country must have a world class capital market that is strong, sustainable, effective, and plays a central role in economic development.

According to her, the SEC is open to suggestions and actions that would make the Capital Market vibrant but however added that such collaborative efforts would be with associations and persons that are fit and proper to operate in the market.

She said the SEC is willing to collaborate with the association to lift the market and re-position it among leading capital markets that meet international standards and best practices.

Uduk commended members of the group on their efforts so far in deepening the market especially for their support towards the financial literacy campaign of the SEC and assured them of the readiness of the SEC to continue to work with them.

“It’s good that we work together to take our capital market to the height we want it to attain. We are ready to engage with you to give us clarity on several issues relating to the market.

“We are open to discussions that will benefit the market, the market is the most important in all our engagements.

Speaking earlier, Chairman of ASHON, Chief Onyewechukwu Ezeagu pledged the commitment of the group to the growth of the capital market adding that whatever is done to make the MArket work is of concern to the association.

“We have always worked with SEC and will continue to do so and accord you all the co-operation you require to succeed” Ezeagu said.

On financial literacy, the ASHON Chairman said the group will continue to collaborate in every way possible to reach financial illiterates in the country.