Money Raised in Capital Market Hits N1.55trn in Sept – SEC
The Securities and Exchange Commission, SEC, yesterday, revealed that the total issuances, both of debts and equities in the capital market as at September 2017 stood at N1.55 trillion, while assuring its commitment to the maintenance of investor confidence.
Acting Director General, SEC. Dr. Abdul Zubair, during his maiden interactions with the press at a workshop for capital market correspondents in Lagos, weekend, said: “the Commission wishes to assure the investing public and all stakeholders of its commitment to ensuring an uninterrupted and orderly operation of the market and the regulations thereof.
“Accordingly, the Commission is poised to continue to ensure the stability of the Nigerian capital market and maintain the high level of investor confidence observed in the market.”
In his comment on the performance of the market, the Acting DG stated: ”As at September 2017, the total value of issuances in the market amounted to N1.55 trillion with equities accounting for 12 per cent. In secondary market, total equities transactions rose by 78.6 per cent to N1.655 trillion between 2016 and September 2017, foreign transactions increased by 47.31 per cent during the period. For Financial Market Derivative Quote, FMDQ, total turnover in August 2017 was N12.9 trillion and N12.18 trillion in October 2017 with Treasury Bills dominating activities, while in National Association of Securities Dealers ,NASD, trade on the floor was valued at N352.42 million in October 2017, 22.4 per cent higher than the level for January 2017.”
He further assured of the Commission’s commitment to support government’s policy on the ease of doing business, which it had already started.
According to him “The SEC designed and implemented laudable programmes to create more awareness and further deepen the market. Recently, the Commission embarked on an outreach in some area councils of the FCT.”
SEC joined its counterparts all over the world to mark the IOSCO world Investors week in Abuja and Lagos bringing together stakeholders, investors, and students to promote financial inclusion. An Investor Education Portal dedicated to educate investors of financial literacy and activities of the capital market has been designed and contents uploaded. The portal will soon become accessible to all.”
The Acting DG also revealed some of the achievement of the Commission in recent times to include: demutualisation of share certificates, direct cash settlement, e-dividend management system, National Investors Protection Fund, Complaints Management Framework, etc.
According to him “ Demutualisation process had paid off, with nearly all share certificates now digitalised, thus completing the process of dematerialization and therefore overcoming the problems associated with damages to or loss of physical share certificates.”
Do you need to be heard? Or your articles published? Send your views, messages, articles or press release to: newswiremagazine@yahoo.co.uk >>> We can cover your (LAW) events at the first Call: 08039218044, 08024004726
-Advertisement-
Grab our latest Magazine, "Hon. Chief C.O.C Akaolisa gets justice". Get your order fast and stress free.
For more details about Newswire Law&Events Magazine, kindly reach out to us on 08039218044, 09070309355. Email: newswiremagazine@yahoo.co.uk. You will be glad you did
