SEC pushes for more investor Education in the capital market
By Patience Ikpeme
The Securities and Exchange Commission (SEC) has called for constant education and sensitisation of investors in the capital market.
Director General of the SEC ,Dr. Emomotimi Agama stated this during a meeting with the management of the Investment and Securities Tribunal (IST) , on Thursday in Abuja.
Dr. Agama described investor Education as key to development and an important component of financial literacy in a bid to develop the capital market.
According to Dr. Agama, “We need to continue constant education in the capital market. The market is knowledge based and we are committed to ensuring that information is made available to the investing public.
He gave the assurance that the SEC will not relent in its effort of bringing relevant information, trainings and sensitisation to equip investors through partnerships with relevant stakeholders.
“The Commission will continue to partner with relevant stakeholders to create more opportunities for learning. We will do more trainings and sensitisation because it is important we continue to learn” he stated.
The Director General also pointed out the importance of the establishment of the Investments and Securities Tribunal (IST) describing it as an important organ in the discharge of capital market disputes.
Agama disclosed that decisions on cases brings about confidence which is needed for the nation to have a fledging capital market and as more cases are being, the investing public will begin to appreciate the role of the IST in the capital market.
Also speaking at the meeting, Chairman of IST, Mr. Amos Azi said the IST was established out of a need to address two significant pillars of market growth development and stability which are investor confidence and protection through a specialized dispute resolution system.
“It is noteworthy to state here that the creation of the Tribunal gave a boost to the International recognition of the Nigerian capital market. You will recall that the existence of the Tribunal was part of the factors considered by the International Organization of Securities Commission (IOSCO) in admitting Nigeria’s SEC as “Appendix A” signatory to its multilateral memorandum of understanding (MMOU) in 2006″ he added.
Azi stated that in the course of exercising its powers, the Tribunal has not only restored investor confidence in the market but has contributed immensely in the development of capital market jurisprudence by its decisions, and promoted knowledge dissemination and market enlightenment through its law reports.
Upon its establishment according to section S.274 of the ISA 2007, the Tribunal has given judgements on over 480 cases with monetary value of over N868billion naira.
