SEC expects capital market expansion in 2022

SEC optimistic of capital market growth in 2022 - P.M. NewsPicture:  Mr Lamido Yuguda, Director General

Because of its various measures, the Securities and Exchange Commission (SEC) is optimistic about capital market growth in 2022.

Mr Lamido Yuguda, the SEC’s Director-General, stated this in a statement released by the Commission in Abuja on Sunday.

He expressed the hope that if the constraints on COVID-19 and its derivatives were eased, the market would experience renewed confidence, allowing domestic and foreign investors to invest.

During the upcoming conference, Yuguda said, the SEC will also unveil the amended version of the 10-year Capital Market Master Plan.

He said the plan would reflect the dynamism of the market and developments in FinTech among others.

”As we expect improvements in both economic and capital market activities, we must remain committed to developing the market in line with the 10-year Master Plan.

”Some of the key initiatives to be pursued in 2022 are the repeal of the Investment, Securities Act (ISA) 2007 and passing of the Investment and Securities Bill 2021.

“In conjunction with the National Association of Securities Dealers (NASD) platform, we will provide the necessary incentives and support to attract SMEs to get listed.

”Already, rules on crowd-funding to encourage new funding sources for the SMEs have been developed.

”The SEC will continue to enhance the existing regulatory framework guiding the operations of the market by keeping pace with the evolving changes in market practices,” he said.

Yuguda stated that the Commission will strengthen collaboration with other stakeholders such as the National Assembly, CBN, PENCOM, NAICOM, DMO, and FIRS in order to establish synergies to ensure that the master plan’s objectives were realized.

He went on to say that the SEC will work with relevant government organizations to guarantee that their shares were listed.

He also stated that measures would be advocated to encourage enterprises, such as the new Dangote Refineries, to offer their shares to the public and list on any of the commission’s registered platforms.

”We also plan to provide extra support to the registered commodities trading platforms to complement government’s renewed diversification efforts in agriculture,” he said.

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