The Securities and Exchange Commission (SEC) says with the various initiatives being implemented as part of the 10- year capital market master plan Nigeria’s capital market is now more attractive to investors.
In a New Year message by the commission, its Acting Director-General, Ms. Mary Uduk, commended and appreciated the relentless services offered by capital market stakeholders towards its growth and development.
She called for greater commitment to the master plan, noting that the time has come to make all the difference if Nigeria is to realise its vision of a world-class market.
Uduk recalled that in 2019, the market recorded “tremendous results in a number of initiatives largely derived from the 10-year Capital Market Master Plan.”
These initiatives, she stressed, “have helped make the market more attractive, efficient and properly positioned to harness its true potentials.
“Through the implementation of interventions such as the Electronic Dividend Mandate Management System (E-DMMS) and the Identity Management System, we have made reasonable success in reducing the huge quantum of unclaimed dividends,” she added.
The roadmap, she explained, was developed to guide the market towards innovation, and embrace a technology-driven approach in the regulatory oversight, in the journey through the Fourth Industrial Revolution.
“These landmarks would not have been possible without our collective resourcefulness and relentless efforts. The Commission values and appreciates the selfless service and dedication that the capital market community and its stakeholders have invested in various Committees and Teams.
“The new year 2020, which also signifies the commencement of a new decade, will see us embark on a number of programmes geared towards taking our market to lofty heights.
“I enjoin us all to see this as a call to renew our passion and commitment to building the capital market of our dreams: a world-class capital market – founded on the values of partnership and cooperation that has helped us stand the test of time. The capital market of our dreams can only be achieved through harmonious partnership and our continuous cooperation,” she stressed.
