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SEC boosts investor confidence as it makes major move

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DG of the SEC, Lamido Yuguda

The Securities and Exchange Commission (SEC) has made major moves to restore investors’ confidence in Nigeria’s capital market.

Speaking about the development, the Director General of the SEC, Lamido Yuguda, said the capital market provides the vehicles and framework that will attract people and institutions to invest.

Yuguda made this known during the 8th edition of Investing and Capital Market conference on Thursday, September 10.

He, however, disclosed that Nigeria’s capital market has witnessed a lot of sets back as some investors have left the market in the past 10 years due to the last global financial crisis.

According to him, “We have identified as key priorities a five-point agenda for Nigeria’s capital market.

“The commission needs to be sound in other to provide the regulatory support that the market needs. The second is the continued implementation of the capital market master plan (2015-2025).

“The pandemic has taught us that we need to do a lot more in this area. We need to provide more infrastructure for our people especially at a time when you see a lot of countries closing their doors to other nationals.

“You need to make sure that you are self-sufficient in other areas, whether it is road, education, health and the likes.

“We just need to make sure that the capital market provides the vehicles and framework that will attract those people and institutions to invest.

“In a nutshell, we want to be a regulator that is really a reference point in the whole of Africa. We do engage with other regulators in the continent and we want the SEC to be at the top of that.”

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