SEC to hold 2nd Quarter CMC meeting on July 28

The Securities and Exchange Commission (SEC) said it would hold the second quarter Capital Market Committee ( CMC ) meeting in Lagos on July 28.

This is contained in a statement made available to newsmen by the commission on Monday in Abuja.

The statement said that top on the agenda at the meeting would be the Capital Market Master Plan implementation.

It recalled that the 10-year master plan for the Nigerian capital market which was expected to refocus the market and help double its size over time and grow the economy was unveiled in November 2014.

According to the statement, the Director General of SEC, Mr Mournir Gwarzo has assured his commitment toward ensuring the implementation of the 10-year Capital Market Master Plan.

“I have only one agenda for the market, which is to faithfully and religiously implement the 10-year Capital Market Master Plan,’’ Gwarzo was quoted as saying.

The statement recalled that SEC had set up three committees to drive market growth and the best brains in the market participated in the three committees.

It noted that the committees had worked tirelessly and came up with an excellence report which was launched last year, adding the country lacked faithful implementation of reports.

The statement said that those invited to attend the expanded session were chief executive officers of all registered capital market firms, the Nigerian Stock Exchange and the National Association of Securities Dealers.

It said that the Financial Markets Dealers Quotations, Africa Exchange Holdings, Nigeria Commodity Exchange, Central Securities Clearing System, and Chartered Institute of Stockbrokers were invited for the session.

It further said that a member from each observer group such as Asset Management Corporation of Nigeria, Central Bank of Nigeria, Corporate Affairs Commission and Debt Management Office would be in attendance.

It named others to include, the Federal Ministry of Finance, Federal Mortgage Bank of Nigeria, Federal Inland Revenue Service, Nigerian Deposit Insurance Corporation and Investment and Securities Tribunal.

It said that the Nigerian Investment Promotion Council, National Insurance Commission, National Pension Commission, Financial Services Regulation Coordinating Committee have also been invited to attend.