The Acting Director-General of the Securities and Exchange Commission, Mr. Ibrahim Bello, has urged stockbrokers to ensure that they partner the commission in rebuilding the capital market.

Bello gave this advice to the brokers during a  visit to the  Chartered Institute of Stockbrokers’  office in Lagos on Thursday.

Although the details of the meeting were not made public, sources revealed that the meeting with the council of the CIS, bore on efforts targeted at the resolution of the current challenges in the market.

He also said that it was important for stakeholders in the market to partner in ensuring that investors’ interest was rekindled in the market.

Bello said that it was important for SEC and operators to work together with the aim of restoring investor confidence among others.

Bello, who assumed the position of acting DG of SEC Monday, had promised to meet with the major operators in the market, including the Nigerian Stock Exchange, the CIS, the Central Securities Clearing System and Association of Stockbroking Houses.

He noted that the collaboration of all stakeholders was important to move the market, which had been faced with diverse challenges in the last few years, forward.

He also explained that his desire was to move the market forward, restore investor confidence and leave a positive legacy in the market.

While speaking to the SEC staff early this week, he doused any tension over jitters concerning the safety of their jobs, adding that the commission was ready to work together with employees to ensure that things ran smoothly in the organisation.

He declared that outstanding staff issues would be handled with urgency and asked the workers 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.

“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 added  that quick win strategy would 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 stated.

Source: Punch/Udeme Ekwere