Nigeria’s first Capital Market Professor, Uche Uwaleke has hailed the management of the Securities and Exchange Commission led by acting Director General, Mary Uduk for its effort in the development of the market.
Uwaleke, who said this in a chat with Blueprint, added that SEC’s under the leadership of Ms. Uduk has undertaken several investor protection measures including the clamp down on ponzi schemes and illegal investment companies have strengthened investors’ confidence in the market.
“Worried by the volatility in the stock market, plans are afoot by the Commission to introduce equity derivatives going by information obtained from its website,” he said.
According to the President of capital market academics the acting Director General has performed well in the capacity especially in terms of the implementation of the 10-year capital market master plan.
“Capital market literacy effort is gaining momentum following the development of capital market curriculum for secondary schools in Nigeria which the Commission is currently championing in conjunction with the Nigeria Education Research and Development Council.
“SEC is also partnering with Fintech companies with a view to enhancing market infrastructure and positioning our capital markets to be more competitive. I can also tell you that my interactions with staff of the Commission have shown that staff morale has greatly improved since her appointment as Ag DG.
“These achievements made by Ms Mary Uduk within a short period of time have not come as a surprise to me considering her long years of experience as a Staff of SEC. So, there is no doubt that she understands the market and is in a position to take it to the next level,” he added.