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Securities exchanges association will deepen capital market — SEC DG

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Mary Uduk

By Peter Egwuatu

The Acting Director-General of the Securities and Exchange Commission (SEC), Ms Mary Uduk, has applauded the Nigerian Stock Exchange (NSE) on the formal launch of Association of Securities Exchanges of Nigeria (ASEN), stressing that it will deepen capital market activities.

Speaking at the launch of ASEN in Lagos, Uduk said that it would improve efficiency, liquidity and settlement as well as deepen the capital market for rapid economic development.

She pledged to assist the Association to achieve its set goals in the Nigerian capital market as this would impact positively on the economy as well as the investing public.

“We are with you, we will stand by you, we are going to support you, you will not work alone”. She stated.

Also speaking at the event,  Chairman, House committee on Capital Market and Institutions, Mr. Yusuf Tajudeen, assured of lawmakers’ support where required so that the market can function the way it should for the overall development of the economy.

He called on capital market operators, stakeholders  and market analysts to continuously engage lawmakers in a bid to improve the market.

In his opening remarks, NSE’s chief executive, Mr Oscar Onyema, said ASEN is a non-profit industry association established to accelerate the development of domestic securities exchanges and support the Nigerian capital market to achieve greater global competitiveness.

Membership of the association currently includes AFEX Commodities Exchange (AFEX), FMDQ OTC Securities Exchange (FMDQ), NASD OTC Securities Exchange (NASD), Nigeria Commodity Exchange (NCX) and The Nigerian Stock Exchange (NSE).

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