Professor of Capital Market, Uche Uwaleke, has urged the incoming Director-General of the Securities and Exchange Commission (SEC), Lamido Yuguda, to work closely with the board of the commission to fulfill its mandate
Uwaleke, who made this known to Blueprint on Tuesday in Abuja, said the appointment of Lamido Yuguda would further strength the relationship between the commission and the Central Bank of Nigeria (CBN).
Acting SEC DG, Mary Uduk was appointed to head the commission by former finance minister.
Earlier Tuesday, President Muhammadu Buhari, had submitted the name of Dr. Yuguda to the Senate for confirmation as the Director-General of SEC. Dr. Yuguda retired from CBN as a director.
Also, Buhari sent for confirmation of three commissioners.
The former IMO state finance commissioner said: “I think they are all eminently qualified especially the DG nominee who I understand retired from the CBN as a Director. There is no doubt that Mary Uduk did very well as Ag DG. So i expect him to continue from where she is signing off. Since the days of Arunma Oteh as DG through Mounir Gwarzo, there has been a major agenda which is the implementation of the Capital Market Master Plan. So, the new DG Lamido Yuguda already has his job well cut out for him. All he needs do is to pick up the document, revise and update it and then hit the ground running with the remaining outstanding initiatives in the Master Plan.
“The retention of Reginald Karawusa, who has been functioning in an Acting capacity, as full time Executive Commissioner will help the new management team settle-in timeously. It is equally important the new DG carries the Board along by working closely with the Chairman, Olufemi Lijadu, to improve the welfare of the Commission’s staff as well as advance the interest of the capital market.
“I have no doubt that his rich central banking background will rub off positively on the market especially in the area of forging closer ties between SEC and the CBN in the overall interest of the nation’s financial market.
“I congratulate him and his team and pray God to grant them the wisdom to take the capital market to higher heights,” he said.
