Home News New SEC Management Vows To Implement  Capital Market Master Plan

New SEC Management Vows To Implement  Capital Market Master Plan

by timenews
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The new management of the Securities and Exchange Commission (SEC) has
said that it will majorly focus on implementation of the
Organisation’s 10-year Capital Market Master Plan.

The new Director General of SEC, Lamido Yuguda,who  resumed recently
alongside the Executive Commissioners namely: Reginald Karawusa,
Ibrahim Boyi and Dayo Obisan expressed hope that the ground work done by the
past managements and the quality and professionalism of SEC staff
would impact  positively on the capital market.
He said, while the new management team at SEC seek possible ways
of strengthening the Capital Market Master Plan for enhanced impact,
the members would equally work towards improved market regulation,
surveillance and general development.
“In order to do this effectively, we will need to develop relevant
capacities. This we shall do by first learning from existing internal
efforts and also from other available innovative approaches. We would
also foster collaboration with relevant stakeholders, be they private,
public or international in achieving our mandates”, he explained.
According to him, the Capital Market Master Plan launched in 2014 has the objective of
positioning the capital market for an accelerated development of the
national economy.
Yuguda, who expressed his gratitude to the immediate past
management team of the SEC for the great job they did in the last two
years and the efforts they put in to ensure the stability and
development of the market noted that the Capital Market Master Plan
had obviously contributed to the development of the Nigerian capital
market and the economy in line with its objectives
“Many of theplan’s initiatives have been successfully implemented while many
others are Work in Progress,” he said.
“In the last one year I have served on the Board of the Commission.
This has afforded me the opportunity to gain insight into the
activities of the SEC and developments in the capital market. But I
know that much more will be revealed as we study the handover notes
and interact with the staff,”
“One thing I can assure you is that we will work to the best of our
abilities to uphold the good things we met on ground and consciously
seek ways to improve them to the benefit of all stakeholders.
“My colleagues in the new management and I should see our appointment
as an opportunity to serve. Together we must set our sights on
achieving those milestones that are capable of making the capital
market a powerful engine of growth for the Nigerian economy,” the SEC
Director General said.
Yuguda who commended the outgone management for setting up the Capital
Market Support Committee on Covid-19 to coordinate the market’s
contribution to fight the pandemic, assured that the initiative will
continue to be upheld.
The Commission set up the Capital Market Support Committee on Covid-19
in April, 2020 to coordinate the market’s contribution to fighting the


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