Capital Market plan to top discussions as SEC holds first CMC meeting for 2018
Progress made so far on the capital market master plan implementation and other market Initiatives would top discussions as the Securities and Exchange Commission (SEC) holds its First Capital Market Committee (CMC) meeting for 2018.
The meeting is scheduled to hold in Lagos from Thursday April 19 to Friday April 20, 2018 at the Federal Palace Hotel, Victoria Island, Lagos.
The ten-year plan for the Nigerian capital market which is expected to help refocus and double the market size, as well as grow the economy was unveiled November 2014.
The Commission has so far 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.
Mary Uduk, who was appointed last Friday by Minister of Finance, Kemi Adeosun to take over as SEC’s Acting Director-General is expected to chair the meeting for the first time.
Uduk took over from Abdul Zubair, who Adeosun redeployed to External Relations Department of the SEC.
Those who have been invited to attend the expanded session are Chief Executive Officers (CEOs) of all registered capital market firms including; 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.
In mailed statement, SEC enjoined 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 it 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.
Onyinye Nwachukwu, Abuja
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