ADVERTISEMENT

SEC to partner with anti-graft agency on market infractions

He said the provisions of the law mandated SEC to protect investors on developing the market while the structure of the law had limitations over criminal cases.

Ibrahim Magu

Mr Naif Abdulsalam, SEC’s Head of Corporate Communications, said   in a statement in  Abuja on Sunday that  Gwarzo  made the pronouncement   when the SEC management visited the Acting Chairman of  EFCC, Ibrahim Magu, in his office.

Gwarzo  said there had been a close relationship between the SEC and EFCC, adding that the commission would not discharge its responsibility effectively without collaborating with the anti graft agency.

“That is why in the last 10 years there has been a very great collaboration between both agencies.

ADVERTISEMENT

” We hope that when this MoU becomes fully operational, it will assist in reducing market infractions to the barest minimum.

“The collaboration with the EFCC has been of tremendous benefit to SEC, especially in the areas of investigation and enforcement.

“And effective policing of the market is one of the ways of restoring investors’ confidence.

“One of our agenda is to bring back the retail investors to the market and there is no way they will agree to return if they are not sure of the safety of their investments,’’ the statement quoted Gwarzo as saying.

Responding, Magu expressed delight that the collaboration between both agencies had yielded enormous benefits for the growth of the capital market.

ADVERTISEMENT

He added that his agency would continue to provide assistance where required.

Magu said the EFCC had been instrumental in investigating several cases of fraud in the capital market and recovered funds which were returned to investors.

He also assured the SEC of the agency’s continued support .

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Lagos postpones eagerly anticipated Easter boat regatta indefinitely

Lagos postpones eagerly anticipated Easter boat regatta indefinitely

Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister

Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister

Sanwo-Olu opens 'Sunday market' on Good Friday for Easter shopping

Sanwo-Olu opens 'Sunday market' on Good Friday for Easter shopping

Wike thanks Tinubu for the opportunity to serve

Wike thanks Tinubu for the opportunity to serve

Barrister Bida pens special birthday prayer for President Tinubu, Nigerians

Barrister Bida pens special birthday prayer for President Tinubu, Nigerians

Tinubu’s aide distributes food items to 1,750 persons in FCT, Kwara

Tinubu’s aide distributes food items to 1,750 persons in FCT, Kwara

Court grants senator accused of forging NYSC certificate ₦50m bail

Court grants senator accused of forging NYSC certificate ₦50m bail

BREAKING: Delta monarch declared wanted by military surrenders to police

BREAKING: Delta monarch declared wanted by military surrenders to police

Renowned Canada-based Nigerian playwright, Oguntokun is dead

Renowned Canada-based Nigerian playwright, Oguntokun is dead

Pulse Sports

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

Michelle Alozie: I had to do it because of African referees

Michelle Alozie: I had to do it because of African referees

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

ADVERTISEMENT
ADVERTISEMENT