The Securities and Exchange Commission (SEC) has expressed readiness to partner relevant bodies and stake- holders in its quest to ensure zero tolerance on infractions in Nigeria’s capital market and to ensure that perpetrators of fraudulent acts are brought to book.
Acting Director General of SEC, Dr. Abdul Zubair stated this when the chairman and members of Investments and Securities Tribunal (IST), visited him in his office in Abuja recently.
Zubair said the present management of SEC has zero tolerance on infractions, add- ing that anyone that outs the rules will be made to face the consequences of such actions.
He told the IST team that the SEC has been embarking on a number of initiatives to protect the investors in the market and ensure that they reap the bene ts of their investments.
SEC has rolled out a number of initiatives and campaigns which have been yielding results. These initiatives are to ensure that investors are aware of what to do to protect their investments. The e-dividend is one of such campaigns and we enjoin investors to key- in so that they can reap the bene ts of their investments,” he added.
Speaking earlier, the Chair- man of IST, Isaiah Idoko-Akor congratulated the Zubair on
his assumption of of ce and expressed the con dence of the Tribunal in his ability to move the market forward.
He commended the SEC for all it has been doing to support the Tribunal in the discharge of its duties and craved for more support to avoid hitches in the Tribunal carrying out its assignments.
“IST is serving the market, it is very important to the market and that is why we commend SEC for its support
to the IST. However, IST needs to be strengthened to be able to carry out its functions effectively. As the market is expanding, we also need funds to expand our operations to be able to serve bette,” he said.
While commending the SEC on the various initiatives it has rolled out, Idoko-Akor also called for increased enlighten- ment and sensitisation of the investing public especially as it relates to seeking redress on issues on the capital market.