SEC DG Calls for Partnership, Cooperation for Capital Market Growth


Goddy Egene

The acting Director General of Securities and Exchange Commission (SEC), Ms. Mary Uduk has called for more partnership and cooperation among regulators and operators in the nation’s capital in order to take the market to lofty heights.

Uduk stated this in a New Year message to market operators and all stakeholders.

According to her, 2020 will see SEC embark on a number of programmes geared towards taking the market to new levels, saying all hands must be on deck to make that happen.

“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.

She noted that the various initiatives being implemented in the 10- year Capital Market Master-plan have made the capital markets more attractive to investors.

The SEC boss commended operators and stakeholders for their immense efforts and contribution towards developing the Nigerian capital market and enjoined them to remain committed, adding that it is time to ensure that vision of a world-class market is made a reality.

“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 potential. 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,” she said.