Master plan initiatives have made capital market attractive —SEC

THE Securities and Exchange Commission, SEC, has stated that the various initiatives being implemented in the 10- year capital market master plan have made the capital markets more attractive to investors.

Acting Director General, Ms Mary Uduk, who stated this in a New Year message to Capital Market operators and stakeholders, commended them for their relentless service towards the growth and development of the market.

She thanked all Capital Market operators and stakeholders for their immense efforts and contribution towards developing the Nigerian Capital Market and enjoined them to be committed to the Nigerian Capital Market project, adding that it is time to make all the difference to make the vision of a world-class market a reality.

According to her, “the year 2019 saw us record tremendous results in a number of initiatives, largely derived from the 10-year Capital Market master plan. These initiatives have helped make the market more attractive, efficient and properly positioned to harness its true potentials.

“Through the implementation of interventions such as the Electronic Dividend Mandate Management System (E-DMMS) and the Identity Management System, we have made reasonable success in reducing the huge quantum of unclaimed dividends.

Uduk said that as the capital market goes through the ‘fourth industrial revolution’, it has developed a roadmap to guide the industry towards innovation, and embrace a technology-driven approach in the regulatory oversight of the market.

“These landmarks would not be possible without our collective resourcefulness and relentless efforts. The Commission values and appreciates the selfless service and dedication that the capital market community and its stakeholders have invested in various committees and teams.

“The new year, 2020, which also signifies the commencement of a new decade, will see us embark on a number of programmes geared towards taking our market to lofty heights.

“I enjoin us all to see this as a call to renew our passion and commitment to building the capital market of our dreams: a world-class capital market, founded on the values of partnership and cooperation that has helped us stand the test of time. The capital market of our dreams can only be achieved through harmonious partnership and our continuous cooperation” she stated.