SEC to hold Q2 capital market committee meeting

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The Securities and Exchange Commission has announced that the second Capital Market Committee meeting in 2019 has been scheduled to hold in Lagos next week.

SEC said in a statement that while the key stakeholders in the capital market would meet on August 22, members of the media would be briefed on August 23 on the outcome of the CMC meeting.

It said invited participants were expected to come with their identity cards to be admitted into the venue as admission was strictly by invitation and would be upon presentation of the CMC identity card.

The statement read in part, “The CMC was mainly established to serve as a medium for the exchange of ideas among market stakeholders, as well as for feedback to SEC on how to continuously improve the market activities and regulation.

“It is an industry-wide committee comprising members of the commission, representatives of capital market operators and trade groups and other stakeholders. The CMC meets every quarter to deliberate on various issues affecting the market and other policy matters.”

SEC said during the meeting, issues bordering on the implementation of the 10-year Capital Market Master Plan as well as others relating to the capital market, such as financial technology roadmap and the economy, would be discussed and the outcome made known to the media.

It noted that the 10-year master plan for the Nigerian capital market, which was expected to refocus the market and help double its size over time and grow the economy, was unveiled in November 2014.

According to the statement, the commission has vigorously implemented some initiatives in the Master Plan with the aim of attracting more investors to the market.

It said some of the initiatives were direct cash settlement, regularisation of multiple subscription, dematerialisation and e-dividend registration.

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