The Director General of the Securities and Exchange Commission, Emomotimi Agama, has urged capital market operators to embrace investor education to foster the growth and development of Nigeria’s capital market.
In a statement made available to our correspondent on Thursday, Agama
stated this during a meeting with the management of the Investments and Securities Tribunal in Abuja.
He underscored the knowledge-based nature of the capital market, stating, “We need to continue constant education in the capital market. The market is knowledge-based and we are committed to ensuring that information is made available to the investing public.”
The newly confirmed SEC DG also harped on the commission’s commitment to collaborating with stakeholders, saying, “The commission will continue to partner with relevant stakeholders to create more learning opportunities. We will do more training and sensitisation because we must continue to learn.”
Agama said that decisions on cases contribute to the market’s confidence and overall growth.
Agama stated, “The SEC is committed to partnering with the IST on the dispensation of justice and growth of the capital market.”
The Chairman of IST, Amos Azi, echoed the sentiments on investor confidence, stating, “This one initiative has set the pace for similar regulatory climbs all over the world. There is no gainsaying, the tribunal is the bedrock of dispute resolution in the Nigerian Capital market.”
He highlighted the tribunal’s impact, noting, “Established under S.274 of the ISA 2007, the Tribunal has given judgments on over 480 cases with a monetary value of over N868bn.
“The creation of the Tribunal gave a boost to the international recognition of the Nigerian capital market. You will recall that the existence of the Tribunal was part of the factors considered by the International Organisation of Securities Commission in admitting Nigeria’s SEC as ‘Appendix A’ signatory to its multilateral memorandum of understanding in 2006.”
