BY NEWS DESK, JANUARY 06, 2024 | 01:52 PM
The Securities and Exchange Commission, SEC, says it will intensify efforts to eliminate Ponzi and pyramid schemes, thereby fostering an environment for genuine investment opportunities to thrive in 2025.
Dr Emomotimi Agama, the Director General of SEC, said this in his New Year message to the capital market community on Sunday.
He said that protecting investors remained a cornerstone of the commission’s mission.
Mr Agama also said that the commission would prioritise key initiatives aimed at deepening market integrity, enhancing investor confidence and driving economic growth.
According to him, SEC is positioned with a dual mandate in regulating and developing the capital market in Nigeria.
“Naturally, our top priority in 2025 will cut across the dual mandate. For us, mainstreaming the Nigerian Capital Market into the economy is very vital.
“Enforcement is the backbone of effective regulation. We are revamping our investigative processes to enhance efficiency and hold bad actors accountable more decisively.
“Insider trading undermines activities and dampens market fairness. By revising our regulatory framework, we aim to strengthen detection, prevention, and accountability mechanisms.
“Transparency is at the heart of investors confidence and capital markets. We will introduce measures to ensure greater visibility and trust in securities transactions,” he said.
The director-general added that to resolve market disputes efficiently and fairly, the commission was focusing on enhancing the operations of the Investments and Securities Tribunal (IST).
He noted that these efforts aim to make the tribunal more effective in delivering timely resolutions, thereby improving overall efficiency in the process.
Mr Agama stated that key focus for the commission in 2025 is strengthening the legal framework of the commodities market to enable it attain its full potential of aiding economic development.
He said the commodities market is a major area of interest for SEC, adding that Nigeria is purely an agrarian nation.
The director-general said that taking that comparative advantage to the next level, is something that the commission is proud to be part of.
Mr Agama said this year, SEC would focus on reinforcing the legal and regulatory structures that support growth to create a solid foundation for the vibrant commodities ecosystem, be it soft or hard commodity.
“More so, when we have a plethora of commodities all over Nigeria. SEC as a partner in development will make sure that we make the difference,” he said.
Mr Agama said that these initiatives reflect the commission’s vision for a stronger and more inclusive capital market in 2025, adding that SEC is committed to building wealth, instilling confidence and making impacts.
The SEC boss said: “As we embark on this journey, I invite all stakeholders to work with us in achieving these goals.
“Together, we can unlock the potentials of the Nigerian capital market and make this a defining year for our economy.
“What we intend to do, is to steer the capital market towards a direction that ensures that development gets to the doorstep of every Nigerian.”
NAN
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