Acting Director-General of the Securities and Exchange Commission, SEC, Ms. Mary Uduk, on Tuesday applauded the media for robust support and co-operation received so far in its task of effectively regulating the nation’s capital market, and enlightening stakeholders on the various development initiatives embarked upon for the good of the nation’s economy.
Speaking during her maiden visits to some media houses in Lagos, she commended the media for its role in also educating the public on the abundant opportunities in the capital market.
More, she, however, stressed, needs to be done for the commission to perform better, especially as it “relates to issues around our recent initiatives, to enlighten investors on the need for them to key-in.”
Uduk who was represented by Head, External Relations Department, Sufian Abdulkarim said the Nigerian Capital market is critical to the attainment of national economic growth and development.
The capital market, she noted, can assist in infrastructural development while also creating wealth for Nigerians, assuring that steps are being taken to enhance regulation and ensure that Nigerians can invest in the market and get returns on their investment.
According to her, “we have zero tolerance for infections in the market and will not hesitate to apply the necessary sanctions on any operator that is found wanting. We are doing all of these to make the investor know that his money is safe in the market.
“We urge Nigerians to go out and register for the e-dividend, they need to consolidate their multiple accounts as these are some of the ways they can get the benefits of investing in the market while also reducing the unclaimed dividends profile”.
“We also have the Direct Cash Settlement which makes it possible for investors accounts to be credited directly when there is a transaction. We have also migrated from physical share certificates to electronic ones. All these initiatives are geared towards marking our market perform better and ensure investors receive the benefits of their investments.
The SEC boss, however, cautioned investors to ensure they do due diligence before investing their hard-earned money on any product to avoid patronising fund managers that are not registered.
“Investors should cross-check before they put their money in any fund. A list of registered fund managers can be found on the SEC website” she said.
The acting DG noted the importance of Nigerians understanding the workings, as against the age-long misconceptions that they must have tons of money before investing in the capital market.
She said the SEC continues to showcase the investment opportunities available in the market while urging potential investors to engage professionals to guide them on the various products that are available for patronage.
“In the past, people just go to stockbrokers to buy stocks without having proper knowledge of what to buy but now we are encouraging people to go through the investment schemes. If you don’t know anything about stocks, go through CIS (Chartered Institute of Stockbrokers) and invest in different stocks so that professionals can manage your investments.
“You do not have to have so much money or any formal education to be able to invest in this market, there are professionals who will advise you and tell you the best product to invest in to suit your needs. They will also assist you to manage such investments” she added.
Photo caption: From left, Principal Manager, External Relations Department, Securities, and Exchange Commission (SEC), Mrs. Victoria Afen, Editor Daily Sun, Iheanacho Nwosu, Head External Relations SEC, Sufian Abdulkarim, and Head Corporate Communications SEC, Mrs. Efe Ebelo, during a visit of the SEC team to The Sun newspapers, on Tuesday.
