CISNigeria2018: Market Stakeholders urge FG to constitute SEC Nigeria Board

Proshare

Friday, October 05, 2018 5.15PM / Proshare WebTV

 

Market stakeholders in Nigeria have called on the Federal Government to give top consideration to the constitution of the Securities and Exchange Commission of Nigeria board. 

This was the assertion of some of the panelists  at the 2018 Chartered Institute of Stockbrokers in Nigeria 2018 conference in Lagos. 

It was part of the major takeaways from the discourse on “The Regulator’s Role in building Nigeria’s Capital market Architecture”. 

Chairman of the board of the Investors Protection Fund, Barrister Lawrence Fubara Anga believed having the SEC Nigeria board was vital to the efficiency of the regulator in the capital market. 

He further stated that it will strengthen corporate governance which is critical to boosting investor confidence in the Nigerian market. 

Mr Haruna Jalo-Waziri the MD/CEO of the Central Securities Clearing Systems Plc giving his perspective said it must be part of the communiqué of the 2018 CIS Nigeria conference to policy makers. 

Waziri was of the view that having a board in place positions the apex regulator of the capital market, to perform its role seamlessly. 

The CEO of CSCS also made a strong case for market advocacy amongst stakeholders, to emphasize the need for government to take action on the SEC Nigeria board. 

On his part the Chairman of the panel session Mr Olutola Mobolurin a veteran stockbroker and Chairman, NASD Plc said the policy makers need to pay more attention to the issues that will create an enabling environment, for the capital market. 

Mobolurin decried the fact that SEC Nigeria was without a board for three years, and called on the federal government to take urgent steps to address it.


 Proshare Nigeria Pvt. Ltd.


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