We’re working to improve Nigeria’s capital market – SEC DG

The Securities and Exchange Commission (SEC) has reaffirmed that it is committed to making the capital market attractive to Nigerians of all ages and status.

Director-General of SEC, Mr. Lamido Yuguda stated this during a meeting with a team lead by the British Deputy High Commissioner in Abuja.

Yuguda said the Commission is implementing various initiatives to ensure that products and offerings in the market are accessible to both the young and old which he said would further deepen the market.

According to him, “When we assumed office, we were shocked to know that the average age of the Central Securities Clearing System account holder was over 50 years. The CSCS is a depository so if you are investing in equities you must have a CSCS account.

In his remarks, the British Deputy High Commissioner, Mr. Ben Llewellyn-Jones canvassed the need for the SEC to create more alternative options for investments for all classes of people as one of the ways of pulling people away from unregulated space.

He said, “The more you can create alternative options the easier it is to pull people away from unregulated space and that is why the Sandbox is so attractive to us and why we encourage it.”