The Director General, Lamido Yuguda, SEC NIGERIA.
In an event spanning November 14th and 15th, 2023, the Nigerian Capital Market Institute (NCMI) organized a Journalist Academy at the Lagos Zonal Office, featuring a prominent representation by Mr. Dayo Obisan, the Executive Commissioner of Operations at the Securities and Exchange Commission (SEC) Nigeria, standing in for the Director General, Lamido Yuguda, SEC NIGERIA.
Opening the session, Mr. Yuguda welcomed esteemed guests and participants, expressing enthusiasm for the enlightening journey ahead through the intricacies of the capital market. He expressed heartfelt appreciation to journalists for their pivotal role in the market’s progress, emphasizing their contribution to informing, educating, and guiding investors.
SEC DG highlighted the vital role journalists play in promoting market transparency, accountability, and integrity. He commended their efforts in educating investors, simplifying financial concepts, and enhancing market confidence.
Providing insights into SEC’s role, achievements, and future plans, Mr. Yuguda touched upon various initiatives, including the 10-year Capital Market Master Plan (CMMP) and ongoing amendments to the Investments and Securities Act. He emphasized the SEC’s commitment to capacity-building, HR restructuring, and digital transformation to modernize market operations.
Noteworthy achievements were presented, such as the growth of the ETF market, successful sukuk issuances, and the establishment of three multi-product exchanges. Yuguda celebrated the Nigerian stock market reaching an all-time high and highlighted the Commission’s investor protection efforts, particularly in educating the public about capital market operations.
Addressing the dynamic landscape, the SEC DG discussed the SEC’s support for fintechs and technology companies, recognizing them as growth areas for the market. He therefore, outlined the Commission’s initiatives, including a fintech and innovation office, regulatory incubation programs, and warnings about unlicensed cryptocurrencies and digital assets.
Looking ahead, Mr. Yuguda also outlined targets to fulfill assigned presidential goals, improve market capitalization to GDP ratio, and address infrastructure financing through private capital. He expressed confidence in the Commission’s ability to meet and surpass these targets while evolving to respond to the dynamic market environment.
The Journalist Academy, spanning two days, promises to equip participants with in-depth knowledge of market operations, compliance, fintech, and more. SEC DG concluded by assuring unwavering support, engagement, and collaboration from the SEC to achieve sustainable growth for the Nigerian market.
The event concluded with thanks for active participation, anticipating insightful discussions and knowledge sharing over the two-day program
