SEC takes investor education to the military

To deepen its investor education programme, the Securities and Exchange Commission (SEC) has lined up series of enlightenment programmes for the Nigerian Army Ordnance Corps.

A statement from SEC quoted the Head, Lagos Zonal office of the Commission, Mr. Stephen Falomo, who made the disclosure at a meeting between the Commission and Corps Commander, Nigerian Army Ordnance Corps, Major General O. A. Akintade and his team in his office in Lagos, weekend.

According to Falomo, SEC would organise one outreach programme at the Nigerian Army Ordnance Corps headquarters in Ojuelegba, with an expected participation of about 100 officers.

“One outreach programme will also be held at the Nigerian Army Ordnance Corps training institute in Ojo with an expected participation of about three hundred (300) officers.

“It is hoped that these programs will become a continuous feature in the officers’ training program organized every quarter” he said.

He reiterated the commitment of the Commission to educate all stakeholders in order to encourage participation by local investors in the Capital Market currently dominated by foreign investors.

Falomo stated that the request made by the Corps Commander was in line with the market development plan of the Lagos Zonal office and would be executed swiftly.

He said some initiatives introduced by the Commission were to ensure an investor-friendly and attractive system such as e-DMMS, regularisation of multiple accounts, Direct cash settlement, transmission of shares, among others.

Speaking earlier, the Corps Commander Major-General O. A. Akintade explained that the aim of the visit was to establish a cordial working relationship with stakeholders upon his resumption of office about a month ago through a series of visits which commenced with the visit to the Commission.

Major-General Akinlade expressed the hope that the Nigerian Army Ordnance Corps would benefit in full from the Commission’s investor education program.

“We are also here to discover other more profitable investment options available to the Nigerian Army Ordnance Corps apart from the staff contribution scheme currently in place”.

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SEC had recently organised a one Day enlightenment outreach for officers of the Armed Forces, Police, and other paramilitary and other agencies on the investment initiatives in the capital market, and how to protect their sundry investments in Abuja.