By Babajide Komolafe

The Securities and Exchange Commission (SEC) yesterday introduced the Nigeria Securities Market Journal (NSMJ) to tackle the problem of information gap in the Nigerian capital market.

Speaking at the launch of the journal in Lagos, Director General, SEC, Mounir Gwarzo said: “The Nigeria Securities Market Journal (NSMJ) is a periodic multi-disciplinary journal that will serve as a platform for disseminating information and research on the Nigerian capital market.”

He said: “The journal will publish original evidence-based papers on capital market activities. It aims to revamp capital market information, serve as a reference point and re-establish SEC as the knowledge bank of the capital market.”

He said: “The journal will provide an avenue to disseminate critical insights into some of the main problems facing the securities market.

“It will provide an avenue to present and analyse emerging trends and contemporary issues as they affect the Nigerian securities market.

“The journal will be an essential learning guide for investors and students interested in securities market.”
Gwarzo explained that SEC decided to introduce the journal as part of its mandate to develop the Nigerian capital market and by implication the economy by implementing the Nigerian Capital Market Master Plan.

He said: “Poor financial literacy has been attributed as one of the factors for the low level of financial inclusion in the country. A significant part of the master plan articulates plans for capital market literacy.

SEC has focused on several financial literacy initiatives as part of its market development drive. This journal represents another milestone in the endeavour of SEC to fulfill its capital market literacy master plan. A major recommendation of the capital market literacy master plan is developing a regular and up to date publication and journal on capital market operations”.

Speaking at the launch, immediate past chairman, Association of Stockbroking Houses of Nigeria (ASHON), Mr. Emeka Madubuike said: “As information is critical to every market, the launch of this journal could therefore not to have come at a better time. It supports the speedy actualisation of the capital market literacy objective of the 10 year master plan. As stock brokers we appreciate SEC for this bold initiative and pledge our support for its sustenance”
Pledging the support of fund managers to the journal, President, Fund Managers Association of Nigeria (FMAN), Dr.Ore Sofekun said: “We recognise that this is in line with the

Commission’s commitment to increasing professionalism in our capital market and look forward to contributing to Making the journal a successful venture for all stakeholders.”
Chairman of Association of Issuing Houses of Nigeria, ( AIHN), Mr. Sonnie Ayere commended the introduction of the journal saying: “This will become a one stop reference point for professionals, academicians, scholars and investors seeking robust, well researched articles reflecting current thinking pertaining to Nigerian financial market.