Director-General of Securities and Exchange Commission (SEC), Mr Lamido Yuguda
The Securities and Exchange Commission (SEC) has set to streamline processes involved in getting back investments in the capital market to boost investors’ confidence.
In a report by the News Agency of Nigeria, Mr Lamido Yuguda, the Director-General of the Commission, gave the assurance in a statement, by Mrs Efe Ebelo, head of corporate communications at SEC, in Abuja on Sunday.
According to Yuguda, some investors in the market had left their monies due to the herculean procedures involved in getting it back, stressing that there is need to ensure investors benefitted from their investments without difficulties.
The director-general, who pledged the determination of the management of the Commission toward making the capital market more accessible to attract more investors, was quoted saying, ”We need to make operations in the capital market as easy as possible, that way, we can attract investments.
”We are aware that some investors have left their money due to the herculean procedures involved in getting them.
”It is our desire to ensure that people are able to benefit from investments, with that, we can increase investors’ confidence.
”We will look at the processes involved and streamline them to ensure that investors are able to get their money without much difficulties.
”When that happens, people can be motivated to come back to the market, because unless we are able to attract people back, we cannot get the capital market that we can be proud of,” he explained.
He noted that the Commission had zero tolerance to sharp practices in the capital market, warning stakeholders in the market to ensure that they are operating according to laid down rules and regulations.
”We will not condone sharp practices in the market, we will ensure that everyone plays by the rules as that is one of the ways we can attract investors.
”Investors need to be protected; once we can do that, we will be able to take our market to greater heights,” he said.
He however urged investors to key into various initiatives of the Commission, including e-dividend, regularisation of multiple accounts, Direct Cash Settlement among others to have the benefits of their investments.