Acting Director-General of the Securities and Exchange Commission, Ms. Mary Uduk on Wednesday in Lagos urged officers and men of the Nigerian Army to invest in the capital market as part of wealth creation and saving for their retirement.
Speaking at a one-day enlightenment programme for the Nigerian Army Ordinance Corps, assured that several investment opportunities abound in the capital market.
The commission, as part of its job of protecting the integrity of the capital market from all forms of abuse, including insider dealing and market manipulation, she continued, has adequate rules and regulations in place to ensure that their investment is safe.
Uduk who was represented by the Head, Lagos Zonal office of the SEC, Stephen Falomo, said the SEC also undertakes development activities to improve investor education and market participation, promotion of new instruments while encouraging innovation.
“We also register and regulate securities exchanges, capital trade points, derivative and commodity exchanges, and other recognized investment exchange. We register and regulate capital market operators and capital market consultants as well as other functions.
The SEC boss said the Commission is also making efforts to address financial literacy and empowerment gaps within the country embodied in various financial inclusion and literacy initiatives in collaboration with other stakeholders.
“This forum, like many others, therefore affords us the opportunity to engage both existing and prospective investors among you, to ensure that the gains of your participation in the capital market will not be lost,” he said.
The commission, as the apex regulator of the capital, she continued, is currently implementing various initiatives under its 10-year capital market master plan to protect investors.
Uduk gave some of the initiatives as recapitalisation, electronic dividend management system, dematerialisation, and direct cash settlement among others.
“The agenda for this outreach is to enlighten us about the capital market and the attendant benefits while also cautioning us against investing in fraudulent schemes that appear mouth-watering but are actually not capital market products.
“On our part as the regulator, we shall continue to introduce new ideas and policies towards developing and regulating a capital market that is dynamic, fair, transparent and efficient to contribute to the nation’s economic development.”
She added that the forum will also afford participants the opportunity to widen their knowledge of the capital market, and urged them to secure their financial future while working for national peace and security.
Speaking earlier, Major General O.A.Akintade, Corps Commander, Nigerian Army Ordnance Corps, commended the SEC for bringing the enlightenment campaign to the Nigerian army
Represented by Brigadier General M.T. Jinadu, Akintade expressed hope that the officers and men will gain knowledge that will assist them in making wise investments in the capital market.