SEC Restates Commitment to Master Plan Implementation

Acting Director General of Securities and Exchange Commission (SEC) Ms. Mary Uduk has reiterated the determination of the management of the commission to the full implementation of the 10year Capital Market Master Plan.

Uduk stated this in Abuja when she was honoured by the West African Student Union Parliament ( WASUP) for exemplary leadership.

She disclosed that as the head of the apex regulatory body of the Nigerian capital market, she would work with team continue with implementation of policies that will deepen the market and boost the Nigerian economy

“The master plan will continue to be our working document and we shall continue to implement initiatives that will promote investors’ confidence such as e-Dividend registration, direct cash settlement, dematerialisation, complaint management framework, financial literacy and investors’ protection fund, among others,” Uduk said.

The SEC boss, therefore enjoined investors who are yet to register for e-dividend and those that have not yet regularised their multiple accounts to do so.

“Forbearance window for shareholders with multiple accounts has now been extended to September 2018. Registrars have acknowledged that investors have started coming forward but there are still some challenges in the process. We are working hard to address those challenges and that is why we encourage all affected investors to come forward and take advantage of the window before the new deadline” she said.

Speaking earlier, representative of the chairman of the union, Kobehi Kossa commended the Uduk on her efforts so far in restoring investors’ confidence in the market thereby leading to economic growth.

Kossa said the aim of the union is to promote the welfare of African students in serving as a school for the training of political cadres and leaders, in raising the political and national consciousness of the West African people.

He pleaded with the DG to use her good office and position to assist the union to realise its dream in sensitizing the public especially the youth to engage them in activities that will not only contribute to the development of the economy but also empower them.

According to Kossa, the WASUP Exemplary Leadership Award is an honour for the contributions of individuals as ‘Icon of Nation Building and Development’ in Nigeria. However, the union said Uduk’s recognition is in her outstanding strides in championing effective service delivery, immense contributions to nation building, administrative prudence, societal development, staff/workers welfares, self & dedicated services to civil service profession and her contributions to the Nigerian capital market which immensely contributes to the development of the Nigerian economy amongst others.