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New SEC boss vows to restore investors’ confidence

By PETER EGWUATU
LAGOS — Acting Di-rector General of the Securities and Exchange Commission, SEC, Mr. Ibrahim Bello, yesterday, vowed to restore investors’ confidence in the Nigerian capital market, just as Alhaji Aliko Dangote officially resumed as President of the Nigerian Stock Exchange, NSE, following the appeal court judgment upholding his presidency.

A source confided in Vanguard that Dangote was at the NSE, yesterday, to meet officials of the Exchange and chart a way forward for the market.

Dangote takes over as the President of the Nigerian Stock Exchange following the ruling of the Court of Appeal in Lagos, last Friday, upholding his three appeals against cases that led to the nullification of his election as president of the Exchange.

Meanwhile, Vanguard gathered that the new SEC boss met with the staff of the commission to solicit their support, just as he prepares to meet various stakeholders in the market.

Apart from assuring the staff of fairness and his desire for a team work, Bello also solicited their support, commitment, cooperation and discipline in moving the market forward.

He said outstanding staff issues would be handled with urgency and asked them to reciprocate with fresh commitment, cooperation and discipline.

He said: “Forget about the past. It is going to be a team work. Your welfare, especially outstanding staff matters, will be addressed immediately in line with laid down policy and procedure but subject to availability of resources.

“We expect commitment, cooperation, dedication and discipline. We want to leave behind a SEC that everybody will be proud of and the one that the coming generations would commend us for. We have been given opportunity, let’s work together to leave a legacy.”

He said quick win strategy would be adopted immediately to have positive effect on the market, adding: “We will immediately engage on inspection, investigation and enforcement, investor education and restore registration activities and meet with various stakeholders in the market to have early positive impact.”

He, therefore, enjoined the staff to suggest additional means of moving the market forward.

 


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