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Invest in capital market for wealth creation, SEC urges Army

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Army
Mary Uduk,

By Nkiruka Nnorom

Officers and men of the Nigerian Army have been enjoined to invest in the capital market in a bid to create wealth and save money for their retirement.

Ms Mary Uduk, Acting Director-General, Securities and Exchange Commission (SEC) gave the charge at a one-day enlightenment programme for the Nigerian Army Ordinance Corps in Lagos.

Also read: SEC moves to tackle identity theft, protect investors against loss

Uduk who was represented by the Head, Lagos Zonal office of the Commission, Mr Stephen Falomo, told the officers that several investment opportunities abound in the capital market and urged them to take advantage of them in a bid to create more wealth.

She informed them that the Commission has adequate rules and regulations in place to ensure that their investments are safe.

According to her, “One of our responsibilities is protecting the integrity of the capital market from all forms of abuse including insider dealing and market manipulations.”

Uduk said the SEC also undertakes development activities to improve investor education and participation, promote new instruments and encourage innovation.

“We also register and regulate securities exchanges, capital trade points, derivative and commodity exchanges and other recognized investment exchange. We register and regulate capital market operators and capital market consultants as well as other functions.

She said the Commission is also making efforts to address financial literacy and empowerment gaps within the country embodied in various financial inclusion and literacy initiatives in collaboration with other stakeholders.

“This forum, like many others, therefore, affords us the opportunity to engage both existing and prospective investors among you, to ensure that the gains of your participation in the capital market will not be lost,” she said.

“The agenda for this outreach is to enlighten us about the capital market and the attendant benefits while also cautioning us against investing in fraudulent schemes that appear mouth-watering but are actually not capital market products.

“On our part as a regulator, we 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,” Uduk said.

Vanguard

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