SEC restates commitment to robust capital market 

The Securities and Exchange Commission, SEC has reiterated its resolve to collaborate with relevant stakeholders to further develop and deepen the capital market.

The Ag. Director General, Securities and Exchange Commission, SEC, Ms Mary Uduk, said this when members of the Association of Stockbroking Houses of Nigeria (ASHON), met with management of the SEC in Abuja, on Friday.

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

She said the Commission is open to suggestions and actions that would make the capital market more vibrant, but added that such collaborative efforts would be with associations and persons that are fit and proper to operate in the market.

According to her, SEC is willing to collaborate with the Association to lift the market, and reposition 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 is 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.
The Chairman of ASHON, Onyewechukwu Ezeagu, pledged the group’s commitment to the growth of the capital market, adding that whatever must be done to move the market forward 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. We will continue to collaborate in every way possible to reach financial illiterates in the country.”