Securities and Exchange Commission (SEC) has identified derivatives as one of the investable products that would enhance the liquidity of the Nigerian Capital market.
The Acting Director General of SEC, Ms. Mary Uduk stated this in Lagos at the Final Reporting Workshop of the Knowledge Sharing Programme ( KSP).
The KSP which centred on “Capacity Building on Operation and Development of Financial Derivatives Markets in Nigeria,” aimed at tapping from the Korea’s expertise and excellence towards developing the derivatives market in Nigeria, adding that the Nigerian capital market will not remain the same at the conclusion of this workshop as it has derived tangible benefits from this partnership.
According to Uduk, there is no doubt that the KSP has presented a good opportunity for addressing some of the market’s challenges in setting up a strong and functioning derivatives market, especially in terms of having the required market infrastructure, regulatory framework and surveillance system for the derivatives market in Nigeria which are the target areas of research.
“I am optimistic about our chances of creating a derivative market place that will be useful for our economy and the sub Saharan region. With the profiles of speakers lined up for today’s event, I believe that justice will be done to the topics and all of us will leave this venue more informed than we came”
“The partnership between the Korea’s Ministry of Economy and Finance and the Securities and Exchange Commission, Nigeria is the first bi-lateral policy consultation between the two countries. The program has exposed my colleagues to the rich system and diversity of the Korean financial system, which enabled Korea’s advancement and contemporary status among the comity of industrialised nations in the world” she said.
