SEC Commission restates commitment to widen depth of capital market

Mr. Mounir Gwarzo, Director-General, Securities and Exchange Commissin (SEC) has reaffirmed the Commission’s commitment to expand the depth of the nation’s financial market along with promoting financial inclusion in the country

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Mounir Gwarzo, DG SEC. play

Mounir Gwarzo, DG SEC.

(thenationonline)
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According to various media reports, Mr. Mounir Gwarzo, Director-General, Securities and Exchange Commission (SEC) has reaffirmed the Commission’s commitment to expand the depth of the nation’s financial market along with promoting financial inclusion in the country, at a High Level Regional Roundtable on Non-Interest Capital Market in Kano on Monday.

SEC logo play

SEC logo

(thenationonline)

 

According to the SEC DG, “Our role is to boost non-interest capital market product innovation so that the segment can be at least 25 per cent of the overall market capitalisation. We intend to build a strong regulatory regime for non-interest products, encourage stakeholders in the non-interest capital market."

“In addition, we intend to ensure the emergence of Nigeria as a prominent non-interest capital market hub, both at the regional and global levels,’’ Gwarzo said.

READ: Leading commercial bank lists N30bn bond on FMDQ OTC to boost SMEs financing

A money dealer counts the Nigerian naira on a machine in his office in the commercial capital of Lagos in a file photo. REUTERS/Akintunde Akinleye play A money dealer counts the Nigerian naira on a machine in his office in the commercial capital of Lagos in a file photo. REUTERS/Akintunde Akinleye

 

Gwarzo also affirmed that for the potential in the country to be harnessed, proper planning was necessary: “This is why at the SEC we set up a committee of experts last year to produce a 10-year master plan. We are confident that our own master plan objectives will be achieved.”

The theme of the workshop was “Financing development through Islamic Capital Market – A viable alternative.”

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