SEC sets up new framework to address investors’ complaints




The Securities and Exchange Commission (SEC) has established a Complaint Management Framework to address the complaints of capital market investors. 

The Acting Director-General of the SEC, Ms Mary Uduk stated this at the one-day investors forum tagged “A Day With Investors which was held at the Commissions’ headquarters on Thursday in Abuja. 

Ms. Uduk said  the initiative will not only help investors lay their complain through the right channel but also assist the regulator in addressing the issues. 

She said: “Before this framework people complained to many offices, some go to EFCC, some go to the police, some go to any person that they think even thugs, to come and get their invesment back but then, it wasn’t yielding fruit  and it was dragging the regulator in many fronts, therefore, our current complaint management framework will guide investors if you have question about the capital market, you know where to go to. 

“We also now closely monitor and supervise the capital operators so that the investment of investors are not violated and they are misused or mismanaged in any way. We have now set up a framework where we now monitor them more regularly. 

Ms. Uduk said the Commission is also making efforts at addressing financial literacy and empowerment gaps within the country embodied in various financial inclusion and literacy initiatives in collaboration with other stakeholders. 

“This forum, like many others, therefore affords us the opportunity to engage both existing and prospective investors among you, to ensure that the gains of your participation in the capital market will not be lost.  

In his welcome address, the Director, Market Development Department SEC, Mr. Edward Okolo, said the forum will provide participants with better knowledge on how to manage their finances and also recognise fraudulent financial schemes. 

 “Another benefit of today’s gathering is the opportunity to understand fraudulent schemes and scams when they see them. A lot of us sitting in this room today have been cheated out of our hard earned incomes by unscrupulous and illegal fund managers, who promise us returns too sweet to be true. 




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