The newly elected executives of the Association of Assets Custodians of Nigeria (AACN) have confirmed their association’s commitment to support the Securities and Exchange Commission, SEC, and other trade groups in efforts aimed at further developing the Nigerian Capital Market.

The executives made the commitment during a courtesy call on the senior management of SEC recently in Abuja.

Mrs. Kemi Adewole, President of AACN and head of Citibank Nigeria’s Custody business, pledged that the custodians will work with SEC in the area of market process improvements to boost investors’ confidence in the Nigerian market.

Other critical areas highlighted included reviewing the investors’ complaint management mechanism, collaboration with other trade groups in delivering quality investor experience, and a more active participation in Capital Market Committee (CMC) sub-committees, etc.

Responding, Acting Director General of SEC, Mallam Munior Gwarzo, stated the Commission’s support for empowering Capital Market trade groups to regulate and hold their members accountable as a way of ensuring quick complaint resolutions which will in turn improve investors’ confidence and reduce escalations to the regulators. Also representing the Custodians was Mr. Biodun Adebimpe, Head of Standard Chartered Bank’s Custody Department and Secretary of AACN.