Capital market: SEC evaluates master plan implementation …Holds Capital Committee meeting

Capital market: SEC evaluates master plan implementation

.Holds Capital Committee meeting

By Udeme Clement

The Securities and Exchange Commission (SEC) has concluded plans to evaluate implementation of its 10-year Capital Master Plan, in order to stimulate greater development of the Capital market, in line with the Economic Recovery Growth Plan (ERGP) of the current administration.

The Acting Head, Corporate Department of SEC, Efe Ebolo, made this known in a statement signed and released to the media.

According to the statement, “The 10-year Master Plan designed for Nigerian capital market is expected to enhance tangible growth in the market and to increase the market capacity over time”.

The document revealed, “In the fourth coming second Capital Committee Meeting (CMC), slated for Thursday August 9th – Friday August 10th 2018, the Commission would evaluate implementation of its 10-year Capital Master Plan that commenced in 2014.

“It would be recalled that the Commission has vigorously implemented some initiatives in the Master Plan, with the aim of attracting more investors to the market, to enhance its growth.”

According to the acting Director General of the Commission, Mary Uduk, some of the measures put in place by SEC to stimulate growth in the market include direct cash settlement, dematerialisation and e-Dividend Registration.

Uduk said, these initiatives are meant to promote transparency in the system, in order to build investors’ confidence in Nigeria’s capital market, for more increase in economic growth and development.