The Securities and Exchange Commission (SEC) has expressed readiness to collaborate with the Risk Management Association of Nigeria (RIMAN) in its quest to make more products available in the capital market.
The Director General of the SEC, Lamido Yuguda made the offer in a goodwill message on the occasion of RIMAN’s 20th International Conference held virtually.
Yuguda said from the outbreak of the pandemic to the subsequent lock down, the Commission had worked with Capital Market Operators and other industry stakeholders to ensure that the market experiences minimal distortion as the commission supported various technological driven innovations around market operations and products, some of which include Fintech, Digital Assets and Crowdfunding.
In his words; “To support this, we developed a regulatory framework to galvanize these activities while focusing on managing the risk inherent in the products and activities in-line with our mandate of market development and investor protection. In supporting this innovations, we hope to build a better market, attract more investors, and reduce the demographic of the average age that presently invest in our market. We also hope to include millions whom were excluded from the capital market by making it easier for them to gain access.
“To achieve this, there is a need to collaborate with an organization such as yours and we hereby invite you to contribute in whatever way you can in building the Nigerian Capital Market. We invite you to do more in building the risk management capacity in the capital market, to conduct studies in risk capital market processes and products ad contribute your opinions and recommendations to our exposed rules”. He noted.
The SEC boss said with increased membership, the association has improved in capacity building in the area of risk management and in organizing excellent events “SEC’s registration as institutional member of the Association has elicited several benefits that cut across capacity building and the opportunity to share ideas. We will sustain this relationship and continue to contribute in any way we can.”