Securities and Exchange Commission, SEC is set to retool its 10-year master plan for the Nigerian capital market which is expected to refocus on the market and help double its size over time and grow the economy.
Implementation of the 10-year master plan, which was unveiled last November, would top the agenda of the second quarter 2015 Capital Market Committee, CMC, meeting of the SEC scheduled to hold in Lagos next week.
According to a statement from SEC, the DG of the Commission, Mournir Gwarzo had recently assured that he is committed to ensuring the implementation of the 10-year Capital Market Master Plan.
According to him, “I have only one agenda for the market, my agenda for the market is to faithfully and religiously implement the 10-year Capital Market Master Plan.
“It will be recalled last year, SEC set up three committees to drive market growth and the best brains in the market participated in the three committees and they worked tirelessly and came up with an excellence report which was launched last year. What we lacked in the country is the faithful implementation of reports.”
Those who have been invited to attend the expanded session are Chief Executive Officers (CEOs) of all registered capital market firms (i.e Broker Dealer, Capital Market Solicitors, Custodians, Fund Managers, Issuing Houses, Rating Agencies, Registrars, Reporting Accountants, Trustees, and Consultants).
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), and Chartered Institute of Stockbrokers (CIS).
Also, a member from each observer group (i.e Asset Management Corporation of Nigeria, Central Bank of Nigeria, Corporate Affairs Commission, Debt Management Office, Federal Ministry of Finance, Federal Mortgage Bank of Nigeria, Federal Inland Revenue Service, Nigerian Deposit Insurance Corporation, Investment and Securities Tribunal, Nigerian Investment Promotion Council, National Insurance Commission, National Pension Commission, Financial Services Regulation Coordinating Committee (FSRCC) have been invited to attend.


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