Wednesday, August 16, 2017 6.00pm/Proshare WebTV
The apex regulator of the Nigerian capital market, the Securities and Exchange Commission of Nigeria, is developing a curriculum on capital market studies as part of the financial literacy programme, for primary and secondary schools in the country.
This is in partnership with the Nigerian Educational Research and Development Council (NERDC), geared towards boosting investment education.
The Director-General Mr. Mounir Gwarzo disclosed this at the Q2, 2017 Capital Market Committee press briefing in Lagos.
Mr Gwarzo said a committee is already in place that is preparing the curriculum and content, while SEC Nigeria has a budget in place for the financial literacy initiative.
Speaking further Mr. Gwarzo shared that the Q2, 2017 CMC discussed developments around the e-dividend, direct cash settlement, database for capital market operators, dual licence portal, the commodities market eco-system and launching of the SEC statistical bulletin.
On the e-dividend, the SEC DG maintained that the deadline remains December 31, 2017 while the definite number of 2.1ml Nigerians have been registered, with 432,000 customers identified with bank verification numbers.
He further stated that in the area of creating awareness on e-dividend, SEC met with secretaries of quoted companies and have agreed to display the e-dividend portal poster at Annual General Meetings.
In the area of registration of CMOs, Mr Gwarzo informed capital market correspondents that 421 have been registered with their full database and template provided.
Looking at the bills for the capital market review, the DG stressed that SEC Nigeria is in full support of the CMC committee set up to review the draft bill for the ISA(Investment Securities Act).
Giving an overview on the state of the market, Gwarzo commended the Central Bank of Nigeria on the FX window for Import/Exports, which he believed has boosted investor confidence.
He noted at the commodities market ecosystem, AFEX has set up a trading platform which will help the enhance the diversification of the economy, through the Agric sector.
The SEC Nigeria DG was also happy to inform the capital market correspondents that the “Statistical Bulletin” had been launched that covers all key economic sectors, with accurate data on the financial and capital market.