New Telegraph

February 29, 2024

SEC, RIMAN set to deepen capital market

Securities and Exchange Commission (SEC)

Securities and Exchange Commission (SEC)

The Securities and Exchange Commission has expressed its readiness to collaborate with the Risk Management Association of Nigeria in its quest to make more products available as well as deepen the market. The Director-General of SEC, Mr. Lamido Yuguda, stated this in a goodwill message during RIMAN’s 20th International Conference held virtually. Yuguda disclosed that from the outbreak of the pandemic to the subsequent lockdown, the Commission had worked with capital market operators and other industry stakeholders to ensure that the market experiences minimal disruption.

He said: “We have supported and acquired the emergence of various technological driven innovations around market operations and products, some of which include fintech, digital assets and crowdfunding. “To support this, we developed a regulatory framework to galvanize these activities while focusing on managing the risk inherent in the products and activities in-line with our mandate of market development and investor protection. “In supporting this innovations, we hope to build a better market, attract more investors, and reduce the demographic of the average age that presently invest in our market.

We also hope to include millions whom were excluded from the capital market by making it easier for them to gain access. “To achieve this, there is a need to collaborate with an organisation such as yours and we hereby invite you to contribute in whatever way you can in building the Nigerian capital market. “We invite you to do more in building the risk management capacity in the capital market, to conduct studies in risk capital market processes and products and contribute your opinions and recommendations to our exposed rules.”

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