Protect your investments, SEC urges Nigerian soldiers

By Omobayo Azeez

The Securities and Exchange Commission (SEC) has urged officers and men of the Nigerian Army who have already invested in the capital market to explore all available channels to protect their investments.

Mary Uduk, the acting director general of the SEC, made this statement in Lagos during a visit to the 9 Brigade Nigerian Army on

Uduk who was represented by Head Lagos Zonal office of the SEC,  Mr. Stephen Falomo said the Commission has various mechanisms in place to protect investors. Some of the mechanisms, according to her, include e-dividend, Direct Cash Settlement, Regularisation of Multiple Subscription, Transmission of shares among others.

She said, “All these are put in place to boost investors’ confidence.  Investors are also protected through the National Investors Protection Fund (NIPF) Risk Based supervision that enables the SEC to supervise the operators to ensure that they do not do what they are not supposed to do.

Uduk said the Commission also rolled out a Complaints Management Framework which enables investors to know where to complain to and how long it takes for such complaints to be resolved.

“For those of the investors that are averse to risk, they should get their financial advisers to advise them properly on where to invest.

“We also advise investors to take ownership of their investments. They have to be able to monitor their investments, attend Annual General Meetings as well as read the annual reports sent out to them.

Uduk added that the SEC is committed to protecting investors and will keep working on its rules and the possibility of amending them when the need arises; we want more transparency in the market so that investors will feel comfortable and the market can be better

“Several opportunities are available in the capital market. This is against previous enlightenment we did with the ordinance corps recently which was very successful.