Yuguda Urges Stakeholders Co-operation to Bridge Infrastructure Gap
Kayode Tokede
Key stakeholders have been urged to co-operate with the Securities and Exchange Commission (SEC) in its desire to help bridge the infrastructure gap in the country.
Director General of the SEC, Mr. Lamido Yuguda stated this during a meeting with the new executives of the Chartered Institute of Stockbrokers (CIS) in Abuja.
Yuguda said the capital market is capable of attracting finance that would assist the nation bridge the current infrastructure deficiency.
According to him, “We have huge infrastructural deficit in the country like insufficient power, lack of good roads among others. We want our country to have good infrastructure and I know this is possible with the help of the capital market and other stakeholders.
“It requires adequate planning and financing and we can achieve it as a nation. The capital market through the private sector can fund road construction while government focuses on other issues”.
He commended the new leadership of CIS and assured them of the support of the Management of the Commission for a successful tenure.
The SEC boss acknowledged CIS as a key partner in the Commission’s regulation of the market and assured that the SEC would continue to provide the needed support.
“The future for this country is bright and we have the young population to push it. We can have a much better standard of living than we have now and we hope you will continue to give a lot to the market.
“We are committed to any initiative that will further spur the growth of the capital market. We also have a review of the ISA Bill pending at the National Assembly and that bill has a lot that will revitalize this market, “he added.
In his remarks, President of CIS, Mr. Oluwole Adeosun commended the SEC for the relationship that exists between the Commission and the Institute and thanked the Management for always supporting the CIS.
“Thank you always because you have embraced the institute and made it clear that you desire a very harmonious relationship and we are happy about it, “he said.
Former President of CIS, Mr. Olatunde Amolegbe thanked the DG for the efforts the Management has been making to support the CIS, adding that the Institute has been able to function effectively due to the support of the SEC.
