SEC Lauds NGX for Driving Sustainability, Investor Resilience in Capital Market

The Securities and Exchange Commission (SEC) has commended NGX and NGX RegCo for their efforts towards fostering sustainability and investor resilience in the Nigerian capital market.

Speaking at the Closing Gong ceremony held in commemoration of the International Organisation of Securities Commissions’ (IOSCO) World Investor Week organized by NGX in conjunction with the Securities and Exchange Commission (SEC) and NGX Regulation Limited, the Director-General of the Securities and Exchange Commission (SEC), Mr Lamido Yuguda, represented by the Executive Commissioner, Operations, SEC, Mr Dayo Obisan, said the World Investor Week was a crucial part of the SEC’s 10-year Capital Market Masterplan.

“Financial literacy and investor protection are central to the main objectives of the commission in driving the development of the market,” he stated.

Divisional Head, Capital Markets, NGX, Mr Jude Chiemeka said that the key message for the year “investor resilience and sustainable finance” was apt as investors weathered various challenges globally.

Chiemeka stated that financial literacy and inclusion were top priorities for stakeholders and NGX prioritised these topics as part of its quota to achieving key targets of the National Financial Inclusion Strategy.

He said, “Through collaborations with other organisations and agencies, we have hosted several engagement sessions to educate both institutional and retail participants within and outside Nigeria about specific products and services. Some of our recent sessions have been around Securities lending, Technology Board, Green and Sukuk Bonds, Derivatives, ESG investing and generally investing in the digital age.”

The Head, Broker Dealer Regulation, NGX Regulation Limited (NGX RegCo), Mr. Femi Shobanjo said that the regulator employs its sustainability disclosure guidelines to ensure the market complied with global best practices in Environmental, Social and Governance initiatives.