The Securities and Exchange Commission (SEC) has affirmed that an active collaboration between the government and market participants would enhance growth and facilitate economic development.
Director-General of the SEC, Lamido Yuguda, while addressing journalists in Lagos, stated that such synergy holds the potential of unleashing capital market prowess and paving the way for a prosperous future.
According to him, achieving the objective necessitates an increased utilisation of market mechanisms and instruments to raise funds and stimulate economic advancement.
He pointed out that the commission would continue to introduce new ideas and policies that would support the development and regulation of a capital market that is dynamic, fair, transparent and efficient to contribute to the nation’s economic development, noting that investors’ protection plays a crucial role in the development and integrity of the capital market.
“Effectively harnessing the capital market for national development entails a multi-faceted approach, these include deploying more infrastructure, fostering more public-private partnerships, establishing specialised entities like special purpose vehicles (SPVs), listing state-owned enterprises, issuing green bonds to support sustainable projects, bolstering small and medium enterprises among others.
Yuguda, who was represented by the commissioner of operations, SEC, Dayo Obisan, said by adopting these strategic approaches, government and market participants can create a dynamic capital market that attracts diverse investments, fuels economic growth and contributes significantly to national development goals.
He assured that the commission was poised to create an enabling environment and facilitate oversight and regulatory framework that would continue to deepen market support development.
According to him, the revised capital market master plan underscored the SEC’s commitment to deepening and repositioning the financial market as a key driver of sustainable economic growth.
“The master plan which represents collective aspirations of the capital market community is focused on driving initiatives geared towards growing and deepening the market with the ultimate goal of accelerating the emergence of our dear country in the top 20 economies by the year 2025.”
In addition, he assures that the commission is also committed to supporting efforts aimed at addressing the financial literacy and empowerment gap in the society.
