Chinwendu Obienyi
The new Director General of the Securities and Exchange Commission, SEC, Lamido Yuguda, has stated that the capital market has a lot of potential for growth and development of Nigeria’s economy post COVID-19 and beyond.
He made this known during his assumption of duty alongside the Executive Commissioners namely, Reginald Karawusa, Ibrahim Boyi and Dayo Obisan in Abuja, Monday.
The SEC DG said the capital market is a crucial component of any economy, as the SEC over the last two decades had worked with relevant stakeholders to introduce and implement various initiatives targeted at improving the regulation and development of the market.
According to him, the capital market master plan launched in 2014, has the objective of positioning the market for an accelerated development of the economy. “Many of the plan’s initiatives have been successfully implemented while many others are work in progress in line with its objectives. Therefore, the continued implementation of the plan will be one of the major focus of the incoming management, while we also seek possible ways of strengthening it for enhanced impact. We would equally work towards improved market regulation, surveillance and general development”.
He stated that in order to do this effectively, we will need to develop relevant capacities and foster collaboration in achieving our mandates.
Yuguda assured that the new management will work to the best of their abilities to uphold things on ground and consciously seek ways to improve them to the benefit of all stakeholders. “Together we must set our sights on achieving those milestones that are capable of making the capital market a powerful engine of growth for the Nigerian economy, with God’s help and our collective resolve and dedication, we shall succeed” he added.