The Securities and Exchange Commission has said it is open to suggestions and actions that will make the Capital Market vibrant, stressing the need for more stakeholder collaboration. The Acting Director-General, SEC, Ms Mary Uduk, was quoted in a statement on Sunday as saying that such collaborative efforts would be with associations and persons fit and proper to operate in the market.
Uduk stated these when members of the Association of Stockbroking Houses of Nigeria met with the management of the SEC in Abuja at the weekend. She restated the commission’s dedication to collaborate with relevant stakeholders to further develop and deepen the Capital Market.
According to her, a well-functioning Capital Market is essential to Nigeria’s economic development, and to realise its full potential, the country must have a world-class Capital Market that is strong, sustainable, effective, and plays a central role in economic development.
Uduk said the SEC is willing to collaborate with the ASHON to lift the market and reposition it among leading capital markets that meet international standards and best practices. She commended members of the group on their efforts so far in deepening the market, especially for their support towards the financial literacy campaign of the SEC, and assured them of the readiness of the SEC to continue to work with them.
The SEC DG said, “It is good that we work together to take our capital market to the height we want it to attain. We are ready to engage with you to give us clarity on several issues relating to the market. “We are open to discussions that will benefit the market; the market is the most important in all our engagements.”
Speaking earlier, the Chairman, ASHON, Chief Onyewechukwu Ezeagu, pledged the commitment of the group to the growth of the Capital Market. “We have always worked with SEC and will continue to do so, and accord you all the cooperation you require to succeed,” he added.