Nigeria’s Ten Year Capital Market Master Plan Takes Center Stage At SEC 2018 Third  CMC Meeting

Yemisi Izuora 

The Securities and Exchange Commission (SEC), Third Capital Market Committee (CMyYC), will be discussing issues bordering on implementation of the Ten Year Capital Market Master Plan as well as others relating to the capital market and the economy.

Oriental News Nigeria, reports that the ten-year master plan for the Nigerian capital market which is expected to refocus the market and help double its size over time and grow the economy was unveiled November 2014. 

The Commission has vigorously implemented some initiatives in the Master Plan with the aim of attracting more investors to the market.  

Some of the initiatives, include direct cash settlement, dematerialization and e-Dividend Registration, regularisation of multiple subscription among others as they promote transparency, protect and enhance investors’ confidence in the capital market. 

The SEC has enjoined all shareholders to take advantage of the initiatives introduced in the capital market aimed, primarily, at strengthening the market and accelerating economic development. 

This, SEC said is in consonance with the present administration’s economic strategy focused on deepening the capital market as a vehicle for encouraging a private sector-led economy with enhanced productivity. 

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, etc.); 

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), Chartered Institute of Stockbrokers (CIS); as well as representatives of relevant Financial Services’ Agencies, among others.

The meeting is scheduled to hold from Wednesday November 14th to Thursday November 15th 2018 Lagos.

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