Capital Market Can Enhance of Nigeria’s Potentials – SEC

Chairman of the Securities and Exchange Commission (SEC) board, Olufemi Lijadu, on Wednesday challenged Nigeria’s capital market stakeholders, to explore the nonoil sectors of the economy and enable it attain its full potentials.
Speaking at a breakfast meeting between the board members and the stakeholders Lijadu said the nation needs “money to develop our economy and to get the money we need to attract investors both local and foreign. To attract them, our markets need to have the basic rules that are obtainable anywhere else in the world by aligning ourselves with best practices internationally.
Given that market operators and the apex regulator have the same interest, he challenged them to collaborate in the overall interest of the market and the economy.
He expressed the commission’s readiness “to listen to you, to be accessible to you and to work with you. This meeting is the beginning of a partnership that we hope will continue.
“You are there in the market and can give us that sense of what the market is feeling and can give us that direction to frame our policies in the interest of the market”.
While expressing delight at the degree of interaction the regulator has had with the operators, the chairman expressed hope that such level of cooperation would get better.
He also expressed confidence about the level of knowledge and professionalism of stakeholders in the market, stressing that by the time views and suggestions from the interaction are collated, the market would arrive at some solutions.
“We are key pillars in the ability of our country to find solutions to its developmental needs by attracting relevant funding, together we can make our country great” he added.
Earlier in her welcome address, Acting Director-General of SEC, Ms. Mary Uduk commended the stakeholders for the support extended to the commission in the period during which it operated without a board.
She enjoined them to continue supporting the SEC in its effort to regulate and develop the market, as in her words, “you are the ones that provide us with guidance as to the direction the market should go because you are the ones at the forefront and know it first-hand.
“We are happy that we have agreed to be with us here today. We are here today to rub minds with you and further solicit your co-operation in all that we intend to do to deepen the market” she added.

Photo caption: From left, Acting Executive Commissioner Operations, Securities and Exchange Commission (SEC), Isyaku Tilde; Acting Director-General SEC, Mary Uduk; Chairman, SEC Board, Olufemi Lijadu, and Non-Executive Commissioner, Lamido Yuguda, at the Breakfast meeting between the Board of the SEC and Capital Market stakeholders in Lagos, Wednesday.