SEC de­ter­mined to raise mar­ket par­tic­i­pa­tion – Gwarzo

Daily Trust - - BUSINESS - By Chris Agabi

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.

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