Press Release

The new Acting Director General of the Securities and Exchange Commission, SEC Nigeria, Mr. Ibrahim Bolaji Bello resumed Monday June 18, 2012 and immediately met with the staff of the commission to commence various activities aimed at restoring investor confidence in the Nigerian Capital Market as he prepares to meet various stakeholders in the market.

Apart from assuring the staff of fairness and his desire for a team work, Bello seized the opportunity of meeting with the staff to solicit for their support, commitment, cooperation and discipline in moving the market forward.

Speaking to the staff on Tuesday after a previous meeting on Monday with senior directors, heads of department and staff of the Director-General office to assure them of fairness to all and the need to close ranks, Bello said his desire was to move the market forward, restore investor confidence and leave a positive legacy in the market.

He declared that outstanding staff issues would be handled with urgency and asked the staff to reciprocate with fresh commitment, cooperation and discipline and put in their best to move the market forward.

“Forget about the past. It is going to be a team work, not me alone and your welfare, especially on outstanding staff matters will be addressed immediately in line with laid down policy and procedure but subject to availability of resources. Just put in your best to ensure that we together move the market forward. We have no time for endless talk, let our work speak for us”

“We expect commitment, cooperation, dedication and discipline. We want to leave behind, a SEC that everybody will be proud of and the one that the coming generations would commend us for. We have been given opportunity, let’s work together to leave a legacy”

He went on that quick win strategy will be adopted immediately to have positive effect on the market. “We will immediately engage on inspection, investigation and enforcement, investor education and restore registration activities and meet with various stakeholders in the market to have early positive impact”

He therefore enjoined the staff to suggest additional means of moving the market forward.

Bello will this week meet with the various operators in the market, including the Nigerian Stock Exchange (NSE), stockbrokers, the Central Securities Clearing System (CSCS), executive officers of the Chartered Institutes of Stockbrokers and Association of Stockbroking Houses (ASHON) among others.

Yakubu Olaleye