Financial operators have urged the new management of the Securities and Exchange Commission (SEC) to assess the implementation of the capital market master plan to know the outstanding issues and update the roadmap.
Operators said that assessment of the implementation of the master plan became necessary at this time to enable the new Director-General of the SEC, Lamido Yuguda and other three executive commissioners Reginald Karawusa, Ibrahim Boyi, and Dayo Obisan who resumed office recently know the next step to take in implementing the plan.
They also expressed the need to ensure that revised blueprint for capital market development is integrated into the federal Government’s second Economic Recovery and Growth Plan (ERGP) 2021-2025 to accelerate market development.
Specifically, a financial analyst, Mr Ifeanyi Okoli said that integrating the revised capital market plan into the new ERGP would ensure that the growth of the market would be priority going forward, particularly in the provision of fiscal incentives.
He also expressed the need for the new management to take the issue of investors confidence very important. He said although this has improved to some extent in recent times due to Zero tolarance adopted by the Commission in enforcing discipline in the market, there is still need for the new management team to sustain it and reduce to the barest minimum cases of abuse and infractions.
An economist, Mr Ade Adekunle said integration of capital market master plan is important because the current ERGP did not pay much attention to issues on equities market.
