The British High Commissioner to Nigeria, Bob Dewar has stressed the need for the Securities and Exchange Commission (SEC) to rebuild investors confidence.

Delivering a speech titled “ Managing markets: Governance and regulation in today’s context” during a courtesy visit to the SEC’s headquarter in Abuja on Tuesday, Dewar said, “like financial centres all over the world, Nigeria’s capital markets and banking sector have come under stress and the spot light in recent times, partly because of local issues relating to market integrity and poor behaviour, partly linked to the impact of the global financial crisis.

Your work is key to rebuilding investor confidence in Nigeria. It is important to reform, restructure and rebuild the sector, putting it on a firm footing going forward, Not just for the benefit of the markets in Lagos, but for prosperity of Nigeria and Nigerian investors more widely- and for foreign investors because we are in an interconnected world.”

He commended the effort of the new leadership of sec led by ms.arunma oteh in ensuring standards in terms of regulating and developing the capital market. Dewar said that the private sector should rebuild confidence in investors by ensuring a corruption-free system.“the private sector has to behave well, fighting corruption, rebuilding confidence and upholding corporate governance,” he said.

The High Commissioner said that the regulators of the sector should also uphold rules that would develop Nigeria’s capital market.

According to Dewar “ we are able to support you through the Department for International Development and so I am pleased to support you further under the Financial Sector Strategy 2020 reform process, when that takes off. Both the UK and Nigeria are open and outward looking countries, determined to do our full part to expand world trade again, from which we can all benefit. The UK is open for business and we are Nigeria’s logical gateway.

“Your financial, banking and regulatory leaders have a range of considerations to address. But I would pick on two key aspects in the Nigerian context. Firstly your efforts should involve the application of and belief in better corporate governance and better risk management.