By Peter Egwuatu
AS part of its investor protection mandate, the Securities and Exchange Commission, SEC, has initiated a framework for surveillance and monitoring of the capital market.
Acting Director General, SEC, Ms Mary Uduk, disclosed this on the sideline of the Capital Market Committee, CMC, meeting held in Lagos.
She said: “The Commission is now very closely, monitoring and supervising the capital market operators to ensure that investments are not violated, misused or mismanaged in any way. Therefore, we have put up a framework for surveillance where we monitor them more closely and regularly.”
She explained that “Capital market has a number of products and platforms that can guarantee safety. Investor education in the capital market is one of our key strategies to foster investor engagement on financial planning and decision-making. It also creates awareness about Ponzi schemes and other sharp practices, which we want Nigerians to avoid.
“While some of us will invest for today, most, I believe, will take the benefits deep into their retirement years when the energy to work is lost but the benefits of investments will continue to trickle in, to ensure relative financial security even at old age.”
Uduk disclosed that SEC, as the regulator of the capital market, shall continue to introduce new ideas and policies towards developing and regulating a capital market that is dynamic, fair, transparent and efficient, to contribute to the nation’s economic development.
According to Uduk, the Commission is making efforts at addressing financial literacy and empowerment gaps within the society, adding that this is expressed in the various financial inclusion and literacy initiatives it is currently undertaking in collaboration with other stakeholders.
“We also have other initiatives arising from our ten year Capital Market Master Plan which protects investors and also bring confidence to the capital market, such as the e-Dividend mandate. When people invest in the capital market, they expect returns, they expect to make money. One of it is to be able to protect your dividend and get your dividend as at when due” she stated.