SEC To Release A Revised Master Plan

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SEC
SEC To Release A Revised Master Plan

The Securities and Exchange Commission (SEC) will hold a capital market conference in 2022 to launch a revised version of the 10-year Capital Market Masterplan to reflect market dynamism and developments in FinTech, among other things.

Mr Lamido Yuguda, Director-General of the SEC, stated this in a New Year Message in Abuja Weekend.

According to the SEC DG, as the year 2022 begins, the Commission is confident that the results of the various initiatives implemented will gradually manifest, spurring developments in many aspects of the market.

He expressed his hope that as the restrictions on Covid-19 and its variants are eased, the Market will experience renewed confidence, resulting in new investments from both domestic and foreign investors.

“As we anticipate improvements in both economic and capital market activities, we must remain committed to developing the market in accordance with the 10-year Master Plan,” Yuguda said.

“The following are some of the key initiatives to be pursued in 2022: To align the enabling law with the realities and trends in capital market regulation and practice in Nigeria, the Investment and Securities Act (ISA) 2007 was repealed and the Investment and Securities Bill 2021 was passed.

“Work with the NASD Platform to provide the necessary incentives and support to attract SMEs.”

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“The SEC will continue to improve the existing regulatory framework that guides market operations by keeping up with evolving changes in market practices, particularly with the advent of Financial Technology and digital assets.”

Yuguda stated that the Commission would improve coordination among stakeholders in order to create synergies and increase our effectiveness in ensuring that the Capital Market Masterplan’s objectives are met.