BY PETER EGWUATU

The Securities and Exchange Commission (SEC), weekend, disclosed that seven sub-committees have been inaugurated, with the mandate to map out strategies that would revive the Nigerian capital market for better performance in the years ahead.

This was disclosed at the maiden retreat of the Capital Market Committee (CMC) held in Uyo, Akwa Ibom State .

The retreat was attended by leaders of trade groups in the capital market, chief executives and senior executives of firms operating in the market.

They included: the President of Chartered Institute of Stockbrokers (CIS), Mr. Mike Itegboje; Chairman of Association of Stockbroking Houses of Nigeria (ASHON), Mr. Emeka Madubuike and President of Association of Corporate Trustees (ACT), Mrs. Oluwatoyin Sanni.

The CMC is a body comprising officials of the SEC, Nigerian Stock Exchange (NSE), operators and other stakeholders in the nation’s capital market. The seven subcommittees cover: Investors Confidence Restoration; Investment Management; Market Information/Technology; Commodities Exchange/Capital Trade Points; Fixed Income Securities; Products and Business Development and Rules and Compliance.

Speaking at the CMC maiden retreat in Uyo, Akwa Ibom State , the Director-General of SEC, Ms. Arunmah Oteh, said that subcommittees would come up with roadmap that would assist in determining the direction of the market in 2012 and beyond.

According to her, “ The investor confidence restoration subcommittee, for instance, would  come up with strategies and home grown policies that would ensure that  investors refocus attention on the market  and ensure that their needs are adequately taken care of.”

Regarding the Investment Management subcommittee, she said, “It would evolve strategies that would ensure greater participation in portfolio investment by investors whether in stocks, equities or commodities.

“Members of the committee would come out with ways on how portfolio and fund managers can pull retail investors together and give them professional and qualitative advice and services. Many investors have lost significant money in the past and they can only return to the market if they sure of getting better services.”