SECURITIES and Exchange
Commission (SEC) has urged
capital market operators to adopt
new skills for better performance
and economic development of the
country.
The Director-General of SEC,
Mr Mounir Gwarzo, gave the
advice at the opening of the 21st
Annual Conference of Chartered
Institute of Stockbrokers.
The Head of Corporate
Communication of SEC, Mr
Naif Abdulsalam, made the
information known in a statement
in Abuja on Thursday.
“Almost everything now
comes down to the application
of relevant technology; in fact,
technology is at the nucleus of
dynamic changes in the world
today.
“The financial market
institution of the future is one that
is currently making conscious
effort to automate its processes by
leveraging on relevant technology.
“And as an evidence of the
responses to dynamic changes
in the Nigerian financial market,
the capital market has begun to
observe the evolution of new
products and processes.
“These products include
Sukuk, Green Bonds, Derivatives,
Commodities and Financial
Technology (Fintech),’’ Gwarzo
said.
He said that the commission
was committed to continue
development of the Nigerian
capital market in line with its 10-
year Master Plan.
Gwarzo explained that the
E-Dividend initiative by SEC
was very central, adding that the
commission recently embarked
on a massive media campaign
to sensitise the public on the
initiative.
He said that the commission
had embarked on public
enlightenment on the Dec. 31
deadline on free e-dividend
registration and regularisation of
multiple accounts by investors.
Gwarzo said that the commission
had strengthened its rule making
process and that more rules were
being considered on a timely basis
with the underlying justifications.
He said,“ as evidence of yielding
positive results on some of the
recently introduced initiatives,
the number of reported cases
of infractions in the market has
reduced from 291 in Q1’2016 to
36 in Q3’ 2017. “Also, the number
of Enforcement Cases has come
down from 49 to 30 within the
same period.’’

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