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Nigeria’s capital market will grow in 2022 – SEC



Nigeria’s capital market will grow in 2022 – SEC

The Securities and Exchange Commission, SEC, has expressed optimism of capital market growth in 2022 due to its various initiatives.

SEC Director General Lamido Yuguda said this in a statement issued by the Commission in Abuja on Sunday.

He expressed hope that as restrictions on COVID-19 and its variants are relaxed, the market will witness renewed confidence that is expected to introduce investments from domestic and foreign investors.

Yuguda said that the SEC will also unveil the revised version of the 10-year Capital Market Master Plan during its next conference.

He said the plan would reflect the dynamism of the market and developments in FinTech, among others.

“As we expect improvements both in economic activities and in the capital market, we must remain committed to the development of the market in accordance with the 10-year Master Plan.

“Some of the key initiatives to be pursued in 2022 are the repeal of the Investments and Securities Law (ISA) of 2007 and the approval of the Investment and Securities Law Project of 2021.

“Together with the platform of the National Association of Securities Dealers (NASD), we will provide the necessary incentives and support to attract SMEs to go public.

“Rules on crowdfunding have already been developed to encourage new sources of finance for SMEs.

“The SEC will continue to improve the existing regulatory framework that guides market operations by keeping up with evolving changes in market practices,” he said.

Mr. Yuguda said that the Commission would improve coordination with other stakeholders such as the National Assembly, CBN, PENCOM, NAICOM, DMO and FIRS to create synergies to ensure that the objectives of the master plan are met.

He added that the SEC would carry out advocacy efforts with the relevant government agencies to secure the listing of its shares.

He explained that policies would also be defended to encourage companies, such as the new Dangote Refineries, to offer their shares to the public and list on any of the commission’s registered platforms.

“We also plan to provide additional support to registered commodity trading platforms to complement the government’s renewed diversification efforts in agriculture,” he said.


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