By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-Nigeria’s Securities and Exchange Commission (SEC) said on Monday the capital market master plan implementation will top the agenda for its second quarter (Q2) 2015 Capital Market Committee (CMC) meeting scheduled for Tuesday July 28, 2015.
The ten-year master plan for the Nigerian capital market which is expected to refocus the market and help double its size over time and grow the economy was unveiled last November, the SEC said in a statement.
According to the Commission, Mournir Gwarzo had recently assured that he is committed to ensuring the implementation of the 10-year Capital Market Master Plan.
“I have only one agenda for the market, my agenda for the market is to faithfully and religiously implement the 10-year Capital Market Master Plan. It will be recalled last year SEC set up three committees to drive market growth and the best brains in the market participated in the three committees and they worked tirelessly and came up with an excellent report which was launched last year, what we lacked in the country is the faithful implementation of reports,” Gwarzo said.
SEC disclosed that stakeholders who have been invited to attend the expanded session include chief executive officers (CEOs) of all registered capital market firms (i.e Broker Dealer, capital market solicitors, custodians, fund managers, issuing houses, rating agencies, registrars, reporting accountants, trustees, and consultants.
Others are the CEO of the Nigerian Stock Exchange (NSE), National Association of Securities Dealers (NASD), The Financial Markets Dealers Quotations (FMDQ), Africa Exchange Holdings (AFEX), Nigeria Commodity Exchange (NCX), Central Securities Clearing System (CSCS), and Chartered Institute of Stockbrokers (CIS);
The Nigeria’s capital market apex regulators added that a member from each observer group (i.e Asset Management Corporation of Nigeria, Central Bank of Nigeria, Corporate Affairs Commission, Debt Management Office, Federal Ministry of Finance, Federal Mortgage Bank of Nigeria, Federal Inland Revenue Service, Nigerian Deposit Insurance Corporation, Investment and Securities Tribunal, Nigerian Investment Promotion Council, National Insurance Commission, National Pension Commission), Financial Services Regulation Coordinating Committee (FSRCC) are expected to attend.
