Nigeria’s SEC holds first CMC meeting in 2018

The Securities and Exchange Commission (SEC) is set to host the first Capital Market Committee (CMC) meeting for 2018.

According to a statement from SEC, the meeting scheduled for  Thursday 19 – Friday 20, April 2018, at the Federal Palace Hotel, Victoria Island, Lagos, has topmost on the agenda, the capital market master plan implementation and other Capital Market Initiatives.

The ten-year master plan for the Nigerian capital market which is expected to refocus the market and help double its size over time and grow the economy was unveiled November 2014.

Recall that the Commission has vigorously implemented some initiatives in the Master Plan with the aim of attracting more investors to the market.

Some of the initiatives include direct cash settlement, dematerialisation and e-Dividend Registration, as they promote transparency, protect and enhance investors’ confidence in the capital market.

The SEC, therefore, enjoins all shareholders to take advantage of the initiatives introduced in the capital market aimed, primarily, at strengthening the market and accelerating economic development.

This, SEC said is in consonance with the present administration’s economic strategy focused on deepening the capital market as a vehicle for encouraging a private sector-led economy with enhanced productivity.

Those who have been invited to attend the expanded session are Chief Executive Officers (CEOs) of all registered capital market firms (i.e Broker-Dealer, Capital Market Solicitors, Custodians, Fund Managers, Issuing Houses, Rating Agencies, Registrars, Reporting Accountants, Trustees, and Consultants, e.t.c);

Others are Chief Executive Officers of The Nigerian Stock Exchange (NSE), National Association of Securities Dealers (NASD), The Financial Markets Dealers Quotations (FMDQ), Africa Exchange Holdings (AFEX), Nigeria Commodity Exchange (NCX), Central Securities Clearing System (CSCS), Chartered Institute of Stockbrokers (CIS); as well as representatives of relevant Financial Sevices’ Agencies, among others.

Report courtesy Adesola Afolabi