SEC praises NGX, NGX Regco for driving investor resilience in Capital Market

The Securities and Exchange Commission (SEC) has commended the Nigerian Exchange (NGX) and NGX RegCo for their efforts towards fostering sustainability and investor resilience in the Nigerian capital market.

The Director-General of SEC, Mr Lamido Yuguda, who was represented by the Executive Commissioner, Operations of the Commission, Mr Dayo Obisan, gave the commendation at the Closing-Gong ceremony held in commemoration of the International Organisation of Securities Commissions’ (IOSCO) World Investor Week organized by NGX in conjunction with the SEC and NGX Regulation Limited, stressed that the World Investor Week was a crucial part of the SEC’s 10-year Capital Market Masterplan.

According to him, “Financial literacy and investor protection are central to the main objectives of the commission in driving the development of the market,” he stated.

The Divisional Head, Capital Markets, NGX, Mr Jude Chiemeka said that the key message for the year “investor resilience and sustainable finance” was apt as investors weathered various challenges globally.

Chiemeka stated that financial literacy and inclusion were top priorities for stakeholders and NGX prioritised these topics as part of its quota to achieving key targets of the National Financial Inclusion Strategy.

He said, “Through collaborations with other organisations and agencies, we have hosted several engagement sessions to educate both institutional and retail participants within and outside Nigeria about specific products and services.

“Some of our recent sessions have been around Securities lending, Technology Board, Green and Sukuk Bonds, Derivatives, ESG investing and generally investing in the digital age.

“With the Ring the Bell for Financial Literacy being the anchor part of the week-long celebrations, we look forward to driving more campaigns now and in the future with the overall goal of gaining investors’ confidence and continuing in our quest to be Africa’s sustainable exchange championing Africa’s growth.”

The Head, Broker Dealer Regulation, NGX Regulation Limited (NGX RegCo), Mr. Femi Shobanjo said that the regulator employs its sustainability disclosure guidelines to ensure the market complied with global best practices in Environmental, Social and Governance initiatives.

“We are regularly collaborating with stakeholders to update the guidelines and communicating effective approaches to incorporating sustainability that aligns with international standards and frameworks in their activities and operations”.