Capital market investments can develop Nigeria — SEC — Every day Nigerian
The Securities and Exchange Commission, SEC, says the amount of cash required to develop the nation may solely be sourced from the capital market.
Dr Emomotimi Agama, the Director-General of SEC, stated this at an engagement with newsmen in Abuja on Monday.
Mr Agama stated that there was a have to mainstream the capital market into each sector of the economic system to facilitate the event of the nation.
According to him, the amount of cash required to develop this nation is big.
”Nigeria is a building website, it isn’t short-term cash that may develop this nation. What can develop this nation is long-term cash.
”The solely place you may entry long-term cash is the capital market.
”There is not any manner that this nation can develop with out mainstreaming the capital market into each side of the Nigerian economic system, be it transportation, housing, agriculture, well being,” he stated.
He stated that one of the simplest ways to develop can be by means of the capital market.
“The emphasis on the development of the capital market or the strength of the market is a necessity in our collective national development,” he stated.
Mr Agama stated the fee had engaged the Toronto Centre of Canada to assist construct the capability of the employees to satisfy with the dynamism of the market.
On SEC’s outlook for 2025, Agama stated that focus remained enhancing market transparency and confidence, and leveraging monetary expertise to drive inclusion.
He stated that innovation, in addition to strengthening collaboration with home and worldwide stakeholders to keep up monetary stability have been additionally a part of the outlook.
The director-general stated the fee was talking with the World Bank and International Monetary Fund, IMF, to see how they might assist construct the nation’s capital market.
”As you’re conscious, the African Development Bank (AfDB) is supporting us with the acquisition of a market surveillance system,” he stated.
Agama stated that the engagement was to advertise transparency, consciousness and confidence within the capital market.
He urged journalists to assist educate the general public on the dynamism of the market.
NAN
