The Director-General of the Securities and Exchange Commission (SEC), Mr. Lamido Yuguda, says the Security and Exchange Commission (SEC) is working towards ensuring that Nigeria’s capital is more accessible to Nigerians, and also more attractive to more investors.
Yuguda who spoke during an interview explained that some investors have left their money due to the Herculean procedures involved in getting them, hence the desire of SEC to ensure that people are able to benefit from investments, and also increased investor confidence.
“We will look at the processes involved and streamline them to ensure that investors are able to get their money without much difficulties. When that happens people can be motivated to come back to the market. Unless we are able to attract people back, we cannot get the capital market that we can be proud of.
He stated that the Commission has zero tolerance for sharp practices in the capital market and urged stakeholders to ensure that they operate according to laid down rules and regulations.
“We will not condone sharp practices in the market, we will ensure that everyone plays by the rules as that is one of the ways we can attract these investors. Investors need to be protected, once we can do that, we will be able to take our market to greater heights.
He further stated that investor protection would be at the centre of the initiatives of the new management warning that any operator that short-changes investors would not go Scott free.
“Retail investors are key to the development of the capital market in Nigeria and we want to assure investors that this market is for them and we are ready to do everything to ensure that we increase investor enlightenment through education, robust regulation and fair dealing,” he stated.
