The Punch

SEC, ministry to examine commoditie­s trading market

- Dayo Adenubi

tHe Securities and exchange Commission and the Ministry of Mines and Steel developmen­t will hold a joint session in a bid to deepen the commoditie­s trading ecosystem and attract foreign exchange.

the webinar, with the theme, ‘Financing the solid minerals sector through the capital market and the critical role of commodity exchanges’, will hold on thursday (today), according to a statement.

According to the capital market regulator, the country is currently developing its solid minerals sector to diversify its economy and government’s revenue sources.

the SEC said, “this is in line with the commission’s 10-year Capital Market Master Plan (2015-2025), which has as one of its major goals, the developmen­t of a vibrant commoditie­s trading ecosystem. targeted commoditie­s include nonagricul­ture commoditie­s such as products of mining activities.

“the ecosystem can foster inclusive mining prosperity by efficientl­y mobilising medium to long-term funding for solid minerals projects, linking commoditie­s to industries, creating jobs, unlocking the economic potentials of mining communitie­s, and ultimately engenderin­g economic developmen­t, through better access to market, price transparen­cy and standardis­ation.

“the webinar is open to mining companies, artisanal and smallscale mining operators, federal and state government officials, regulators, industry bodies, academics, asset managers, pension fund administra­tors, legal and advisory service providers, stakeholde­rs in the capital market and the solid minerals sector.”

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