SEC optimistic about capital market growth in 2022

0
Logo of the Security and Exchange Commission (SEC)

The Securities and Exchange Commission (SEC) has expressed optimism for the growth of the capital market in 2022 due to its various initiatives.

SEC chief executive Mr. Lamido Yuguda said so in a statement released by the Commission in Abuja on Sunday.

He expressed hope that as restrictions on COVID-19 and its variants are relaxed, the market will experience an expected boost in confidence to introduce investment from domestic and foreign investors.

Yuguda said the SEC will also inaugurate the revised 10-year capital market master plan at its next conference.

He said the plan would reflect market dynamism and FinTech developments, among others.

“As we await improvements in economic activities and in capital markets, we must remain committed to developing the market in accordance with the 10-year master plan.

“Some of the key initiatives to pursue in 2022 are the repeal of the Investment, Securities Act (ISA) 2007 and the passage of the Investment and Securities Bill 2021.

“Working with the National Association of Securities Dealers (NASD) platform, we will provide the incentives and support needed to get SMEs to register.

“Already, rules on crowdfunding to encourage new sources of finance for SMEs have been developed.

“The SEC will continue to improve the existing regulatory framework guiding market operations by keeping pace with changes in market practices,” he said.

Yuguda said the Commission would improve coordination with other stakeholders such as the National Assembly, CBN, PENCOM, NAICOM, DMO and FIRS to create synergies to ensure that the goals of the master plan are met.

He added that the SEC would conduct advocacy efforts with relevant government agencies to secure the listing of their shares.

He explained that policies would also be defended to encourage companies, like the new Dangote refineries, to offer their shares to the public and register on one of the commission’s registered platforms.

“We also plan to provide additional support to registered commodity trading platforms to complement the government’s renewed efforts to diversify into agriculture,” he said. (NOPE)

Share.

About Author

Comments are closed.