Stakeholders in the Nigerian capital market will on Thursday, August 22, 2019, begin the second quarterly Capital Market Committee (CMC) meeting in Lagos, under the leadership of the Securities and Exchange Commission (SEC).
A statement by the commission recalled that the CMC was established to serve as a medium for the exchange of ideas among market stakeholders, as well as for feedback to SEC on how to continuously improve the market activities and regulation.
It is an industry-wide committee comprising members of the commission, representatives of capital market operators and trade groups and other stakeholders.
During the meeting, issues bordering on implementation of the 10-year Capital Market Master Plan as well as others relating to the capital market, Fintech Roadmap and the economy would be discussed and the outcome made known to the media.
The 10-year master plan for the Nigerian capital market which is expected to refocus the market and help double its size over time and grow the economy was unveiled November 2014.
Recall that the commission has vigorously implemented some initiatives in the Master Plan with the aim of attracting more investors to the market.
Some of the initiatives include direct cash settlement, regularisation of multiple subscription, dematerialization and e-Dividend Registration, as they promote transparency, protect and enhance investors’ confidence in the capital market.
The SEC, therefore, enjoined shareholders to take advantage of the initiatives introduced in the capital market aimed, primarily, at strengthening the market and accelerating economic development.
This, SEC said is in consonance with the present administration’s economic strategy focused on deepening the capital market as a vehicle for encouraging a private sector-led economy with enhanced productivity.
Among those expected to participate at the expanded session are Chief Executive Officers of all registered capital market firms (Broker/Dealer, Capital Market Solicitors, Custodians, Fund Managers, Issuing Houses, Rating Agencies, Registrars, Reporting Accountants, Trustees, and Consultants, etc.).
Others are Chief Executive Officers of The Nigerian Stock Exchange (NSE), National Association of Securities Dealers (NASD), The Financial Markets Dealers Quotations (FMDQ), Africa Exchange Holdings (AFEX), Nigeria Commodity Exchange (NCX), Central Securities Clearing System (CSCS), Chartered Institute of Stockbrokers (CIS); as well as representatives of relevant Financial Services’ Agencies, among others.
Caption: From left, Chairman, West African Securities Regulatory Authorities (WASRA) Rev Daniel Tetteh, Acting Director-General, Securities and Exchange Commission, Ms. Mary Uduk and Chef du Service des Operations Financiers Cote Ivoire, Harouna Quedraogo during the WASRA Meeting in Accra, Thursday, August 15, 2019.