New AMERC chair charges member countries on investor education, protection, as SEC Nigeria receives applause
Adesola Afolabi was a businessamlive reporter and Head of Financial desk.
The new chair of Africa and Middle East Regional Committee (AMERC), Paul Muthaura, has encouraged AMERC member countries to continue with efforts at key policy making and standard setting within the organisation.
Giving his remarks at the ongoing 43rd IOSCO Annual conference in Budapest, Hungary, Muthaura said: “A lot needs to be done in the area of Investor education and protection. We need to leverage on the good work being done by IOSCO so that we can contribute as well as benefit. The work of IOSCO is very broad and we want to work at key areas that will be of most benefit to us in our regions”.
The Securities and Exchange Commission (SEC) Nigeria has also been commended on its tirelessness, professionalism and dedication among others while it hosted the secretariat of the Africa and Middle East Regional Committee (AMERC) of the International Organisation of Securities Commissions (IOSCO).
Outgoing vice chairman of AMERC, Nezha Hayat, gave the commendation at the official handover of the Committee’s leadership from SEC Nigeria to Paul Muthaura of Capital Markets Authority (CMA) Kenya.
Hayat, who is also the CEO of Authorite Marocaine Du Marche Des Capitaux (AMMC) Morocco, listed the monumental approval of Arabic as an additional official language of IOSCO as one of the achievements of the Committee under the leadership of SEC Nigeria.
She also commended AMERC under the leadership of SEC Nigeria for ensuring that member countries, markets, investors and indeed the intermediaries benefitted from the numerous policies of IOSCO.
“I will like to take time to show our appreciation to SEC Nigeria who had anchored the ship for over a decade and it has been quite a smooth sail,” she said.
“Under Nigeria’s leadership, the AMERC has grown in size and stature. Our relevance as a region in IOSCO has been felt and its visibility coupled with its impact has also been felt within the region. Nigeria’s commitment to the AMERC and IOSCO over the decade cannot be overemphasized.
“We all are witnesses to the monumental approval of Arabic as an additional official language of IOSCO, and this was with the tireless effort of SEC Nigeria as chair of AMERC. I am, therefore, a witness to the tirelessness, dedication and professionalism that the AMERC Secretariat of the SEC Nigeria has shown over these years. It is therefore fitting to applaud all their efforts to AMERC over the years and say a big thank you,” Hayat emphasised.