SEC determined to raise market participation – Gwarzo

The Securities and Exchange Commission (SEC) has expressed its determination to raise participation of retail investors in the Nigerian capital market and deepen the market.

The Director-General of SEC, Mounir Gwarzo, stated this when the management of the commission visited the Federal Radio Corporation of Nigeria (FRCN) on an advocacy visit on the 10-year Capital Market Master Plan.

Gwarzo said that the dominance of the market by foreign investors explained why the market was not deep.

He said that the commission has embarked on initiatives like recapitalisation, e-dividend registration, the Direct Cash Settlement to investors from the e-dividend registration, adding that when investors register for e-dividend, anytime their shares were sold, they would get the proceeds directly into their bank accounts, among other advantages.