How capital market can aid realisation of Nigeria’s potentials-SEC


Temitope Adebayo

The need to explore the non-oil sectors especially the capital market in Nigeria’s quest to attaining its full potentials has again been emphasised.

This was stated by the Chairman of the Board of the Securities and Exchange Commission (SEC) Mr Olufemi Lijadu while speaking at a breakfast meeting between the board and stakeholders in the capital market in Lagos, Wednesday.

According to Lijadu, “We all love our country and we need to develop our country. We have potentials and it’s time we start taking steps to realise the potentials.

 “We need money to develop our economy and to get the money we need to attract investors both local and foreign.  To be able to attract them, our markets need to have the basic rules that are obtainable anywhere else in the world by aligning ourselves with best practices internationally.

The SEC board Chairman said operators and the apex regulator have the same interest and expressed the need for all to work together in the overall interest of the market and the economy.

Lijadu said, “We are ready to listen to you, to be accessible to you and to work with you. This meeting is the beginning of a partnership that we hope will continue”

“You are there in the market and can give us that sensitivity of what the market is feeling and can give us that direction to frame our policies in the interest of the market”.

While expressing delight at the degree of interaction the regulator has had with the market, the Chairman also hoped that the co-operation would only get better.

He expressed confidence about the level of knowledge and professionalism of stakeholders in the market adding that by the time views and suggestions from the interaction are put together the market would arrive at some solutions.

“We are key pillars in the ability of our country to find solutions to its developmental needs by attracting relevant funding, together we can make our country great” he added.

In a welcome address, Acting Director-General of SEC, Ms Mary Uduk Commended the stakeholders for the support they extended to the Commission in the period the SEC operated without a board and urged them to continue to support the SEC in its effort to regulate and develop the market.

“You are the ones that provide us with guidance as to the direction the market should go because you are the ones at the forefront and know it first hand

“We are happy that we have agreed to be with us here today.  We are here today to rub minds with you and further solicit your co-operation in all that we intend to do to deepen the market” she added.

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