SEC calls for judiciary reforms under investors protection mechanisms

Director General, Securities and Exchange Commission  Lamido Yuguda called for reformation of judiciary, especially on the issues around investors protection and resolution mechanisms in the Nigerian Capital market.

Making this call in Lagos at Independent Shareholders Association of Nigeria (ISAN) 7th triennial delegates conference with a theme  “Administration of Justice in  Nigerian and  the  Economy, he said the Commission is in  support of judiciary reform and will be happy to play a role on it.

He said  Judiciary’s important work impacts market integrity, investor confidence, market development and market fairness. He said  it is clear that without fair, prompt and effective dispensation of justice, capital markets can never develop. Therefore, in our quest to develop a vibrant capital market in Nigeria, we cannot afford to overlook the central role of the Judiciary.

Yuguda  said as regulator of this dynamic market, the Commission is focused on facilitating capital raising for sustainable national development and transformation of Nigeria’s priority economic sectors, thereby effectively contributing to the national economy.

He said the commission is in the implementation phase of a comprehensive market and institutional reform

program that is intended to reposition the Nigerian capital market to be globally competitive and a destination/hub for

investment activities in Africa – The Nigeria 10-year Capital Market Master Plan (2015-2025).  He stated that the Commission has successfully completed the review of the CMMP and the reviewed plan is expected to guide further development of the market so that it can attract more funds for economic growth and development.

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