SEC Nigeria to co-operate with The Gambia on capital market

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The Securities and Exchange Commission has assured its Gambian counterpart of necessary assistance in their desire to develop more products in their bid to deepen their capital market.

Executive Commissioner Operations of the SEC, Mr. Dayo Obisan, stated this when he received a Team from Central Bank of The Gambia who were on a study visit to the Commission’s Zonal Office in Lagos recently.

Obisan disclosed that the SEC Nigeria is making a lot of efforts to attract more Nigerians to the capital market, one of such steps is stated in the Revision of the 10-year capital market master plan which was launched recently by the Minister of Finance, Budget and National Planning Mrs. Zainab Ahmed.

He said, “We are doing a couple of things in Nigeria, just some few days ago we just relaunched our Revised capital market master plan. Other than the enabling law that we have, the capital market master plan is a 10-year document which we worked with in the last few years.

On illegal fund managers operating in the capital market, the SEC Commissioner said it is not peculiar to Nigeria, but assured that the Commission has put some measures in place in its quest to ensure that Nigerians are not fleeced of their hard earned money by these illegal outfits.

Obisan told the Gambian visitors that the promoters of these unscrupulous schemes pose as operators in the capital market to defraud investors of their money with mouth-watering promises of return on investments.