The Securities and Exchange Commission has expressed willingness to close ranks with the Risk Management Association of Nigeria, as part of efforts to deepen the Nigerian capital market.
Director-General, SEC, Lamido Yuguda, said the commission worked with capital market operators and other industry stakeholders to support the emergence of various technologically driven innovations around market operations and products including fintech, digital assets and crowdfunding.
He made the submission at RIMAN’s 20th international conference last Thursday.
He said, “To support this, we developed a regulatory framework to galvanise these activities while focusing on managing the risk inherent in the products and activities in line with our mandate of market development and investor protection.
“In supporting these innovations, we hope to build a better market, attract more investors, and reduce the demographic of the average age that presently invests in our market.
“We also hope to include millions who were excluded from the capital market by making it easier for them to gain access.”
He called on RIMAN to rise to the occasion by lending support to SEC’s efforts to increase the dragnet of the capital market by evolving more ways of encouraging wider participation.
“To achieve this, there is a need to collaborate with an organisation such as yours and we hereby invite you to contribute in whatever way you can in building the Nigerian capital market.
“We invite you to do more in building the risk management capacity in the capital market, to conduct studies in risk capital market processes and products ad contribute your opinions and recommendations to our exposed rules,” Yuguda added.
