By Ndubuisi Francis in Abuja
The Securities and Exchange Commission (SEC) has entered into partnership with the Association of Capital Market Academics of Nigeria (ACMAN) to develop a curriculum for the Nigerian Capital Market Institute (NCMI) — the educational and training arm of the Commission.
The curriculum would enable the commission and the association to set the required benchmark to be adopted by the National Universities Commission (NUC) in the accreditation of capital market studies in tertiary institutions.
SEC said the partnership was the highpoint of a meeting between the association led by its Interim President, Prof Uche Uwaleke, and the commission led by the acting Director-General, Ms. Mary Uduk.
Uduk noted that the Nigerian capital market regulator would work with the association to improve the standards in the NCMI.
She stated: “Working with this academic body is vital to moving the capital market forward.
“Research that comes out of the university must be actionable and should help boost the growth and development of the capital market.
“We will partner with you to develop curriculum for the Nigeria Capital Market Institute given where we want to take NCMI to.
“This association will make our job a lot easier. We appreciate your coming and we will work together to leverage on your expertise to develop the capital market.”
In his remarks, Uwaleke said the idea behind the association was to advance the frontier of capital market research and promote market issues in the tertiary institutions.
He said being the apex regulator of the capital market, there was the need for the association to collaborate with the commission to set standard for capital market programme.
The university don said the need to set standard for capital market studies was based on the conviction that it would help promote the growth and development of the market.
Uwaleke said that the association would also be partnering with the commission to create more awareness on the benefits of the capital market in tertiary institutions.
He urged the commission to leverage on the expertise of the association by allowing it have representation on the Capital Market Committee.
He said: “The SEC has done a lot in creating capital market curriculum in secondary school but we feel that the low hanging fruit is in the university because that is where we have more literate people.
“We need to emphasise capital market studies in our universities because of the role it plays in economic development. We will do all we can to expand the frontiers of capital market.”