The Securities and Exchange Commission has expressed its readiness to collaborate with the National Pensions Commissions on areas that would assist in further deepening the commodities ecosystem.
Director General of the SEC, Mr. Lamido Yuguda stated this when the Management of the Commission along with the Lagos Futures and Commodities Exchange held a meeting with Pencom in Abuja Tuesday.
Yuguda who was represented by the Executive Commissioner Corporate Services of the SEC, Mr. Ibrahim Boyi, stated that the SEC is very passionate about the commodities sector as it has enormous benefits for the economy of the nation.
According to him, “One of the key pillars of the Capital market Master Plan is the development of the commodities ecosystem which gives our nation the opportunity to diversify both the capital market and the economy and also create more products.”
He said the SEC is seeking collaboration with PenCom to ensure economic development adding that the sector has huge potentials if optimally developed.
Speaking earlier, Managing Director of LFCE, Mr. Akin Akeredolu-Ale said the commodities exchanges are interested in exploring avenues for investing pension funds in the capital market.
He expressed his joy that the SEC is spearheading the ISB to further boost the utilisation of pensions funds in the market adding that if pension funds are not reflated, inflation would keep affecting it.
