The acting Director General, Securities and Exchange Commission, Ms Mary Uduk, has identified derivatives as one of the investable products that will enhance the liquidity of the Nigerian capital market.
Uduk, while speaking at the final reporting workshop of the Knowledge Sharing Programme in Lagos on Wednesday, said the programme was centred on capacity building on operation and development of financial derivatives markets in Nigeria.
She said it aimed at tapping from Korea’s expertise and excellence towards developing the derivatives market in Nigeria.
Uduk said, “The Nigerian capital market will not remain the same at the conclusion of this workshop as it has derived tangible benefits from this partnership.
“There is no doubt that the KSP has presented a good opportunity for addressing some of the market’s challenges in setting up a strong and functioning derivatives market, especially in terms of having the required market infrastructure, regulatory framework and surveillance system for the derivatives market in Nigeria, which are the target areas of research.
“I am optimistic about our chances of creating a derivative marketplace that will be useful for our economy and the sub-Saharan region.”
The Korean Ambassador to Nigeria, Mr Intae Lee, expressed delight at the efforts of SEC and the Nigerian Stock Exchange in driving the derivatives financial products market in various sectors.
Lee, who was represented by the Consul General of the Korean Embassy, Mr Kim Intaek, said he was optimistic that Nigeria would soon be a financial hub for derivatives products in Africa.
“Korea will always strive to be Nigeria’s friend in times of need. We will continue our efforts to straighten the friendship and will be available to support Nigeria in this area and we hope that this venture will turn out to be very successful.”