In order to create an atmosphere where legitimate investment possibilities can flourish in 2025, the Securities and Exchange Commission has committed to stepping up efforts to eradicate Ponzi and pyramid schemes.
In his New Year’s address to the capital market community on Sunday, SEC Director-General Dr. Emomotimi Agama said that safeguarding investors continues to be a key component of the commission’s work.
Agama added that the commission would give first priority to important projects that would strengthen market integrity, boost investor confidence, and spur economic expansion.
He asserts that the SEC is dedicated to fulfilling its dual purpose of overseeing and advancing Nigeria’s capital market. Naturally, this dual mission will conflict with our top priority in 2025. Integrating the Nigerian capital market into the economy is crucial in our opinion.
“The foundation of effective regulation is enforcement. In order to increase efficiency and more firmly hold bad actors accountable, we are redesigning our investigative procedures.
“Market fairness is weakened and activities are undermined by insider trading.” We want to improve detection, prevention, and accountability systems by updating our regulatory framework.
“The foundation of investors’ trust in financial markets is transparency.
“We will implement policies to guarantee increased transparency and confidence in securities transactions,” he declared.
The director-general also stated that the commission was focused on improving the Investments and Securities Tribunal’s operations in order to settle market disputes effectively and equitably.
He pointed out that the goal of these initiatives is to increase the tribunal’s ability to provide prompt resolutions, which will increase the process’s overall effectiveness.
Strengthening the commodities market’s legal structure to allow it to realize its full potential in supporting economic development is a top priority for the commission in 2025, according to Agama.
Given that Nigeria is predominantly an agrarian country, he stated that the commodities market is one of SEC’s main areas of interest.
The director-general emphasized that the commission’s top aim is to take use of this comparative advantage.
According to Agama, this year the SEC will concentrate on strengthening the legal and regulatory frameworks that facilitate expansion, laying the groundwork for a thriving commodities ecosystem that includes both soft and hard commodities.
“SEC, as a development partner, will ensure we make a difference given the abundance of commodities across Nigeria,” he stated.
Agama went on to say that these efforts are in line with the commission’s goal of having a more robust and inclusive capital market by 2025. He reaffirmed SEC’s dedication to creating wealth, fostering trust, and having real effects.
“I extend an invitation to all parties involved to join us on this trip in order to accomplish these objectives.
“By working together, we can unleash the Nigerian capital market’s potential and turn this year into a turning point for our economy.
Agama stated, “Our goal is to guide the capital market in a way that guarantees development reaches every Nigerian’s doorstep.”
(NAN)
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