The Securities and Exchange Commission, SEC, has revealed that the National Assembly is yet to approve the Investments and Securities Bill (2023) submitted before it.
It, therefore, called on the Assembly to hasten up with its scrutiny as the approval of the investment and securities bill will aid in dealing with the economic hardships facing the country, News About Nigeria reports.
The Director General of the Securities and Exchange Commission, SEC, Lamido Yuguda, represented by Dayo Obisan, Executive Commissioner, Operations, made this known at a two-day training for capacity building in Lagos, where he noted that a speedy passage of the bill will reposition the capital market.
Lamido Yuguda further disclosed that the investment and securities commission, SEC, is putting in a lot of efforts to ensure they the market is digitized and mordenized, noting that an effective regulation of the market will greatly benefit from the use of up to date technologies.
According to him, the commission is committed to providing the best technologies including infrastructures and solutions and has partnered with the Central Bank of Nigeria , CBN, the African Development Bank, ADB, and the Financial Sector Deepening Africa, FSDA, to bring these goals to reality.
The Director General also revealed plans of the commission to implement sophisticated surveillance system, which he noted will enhance precise market regulation and provide market operators with a simple yet comprehensive interface for compliance reporting.
Chief economist, SEC, Dr Okey Umeano, had earlier revealed that the Investment and Securities Bill would provide more investment opportunities.
He noted that the bill was to encourage issuers to be more active in the market, while providing better opportunities for operators.