Capital Market A Catalyst For Economic Growth- SEC

The Acting Director-General of the Securities and Exchange Commission, (SEC), Mary Uduk has said Nigeria can attain economic growth if it leverages on the Capital market, which she described as a catalyst for development.

Uduk, who was represented by Head, External Relations Department, Sufian Abdulkarim during a visit to media houses in Lagos, Tuesday added that the market can assist the nation to achieve infrastructural development while also creating wealth for Nigerians.

Recall that in a bid to make the market more inclusive and grow the nation’s economy SEC had called on retail investors to invest in the capital market and do away with the misconception that the market required bulk of investment funds.

While commending the media for educating members of the public on the opportunities in the capital market, Uduk noted that more still needed to be done to perform better.

 “We are aware of the support and co-operation we have received from the media so far, but we want to further solicit your help especially as it relates to issues around our recent initiatives, to enlighten investors on the need for them to key-in.

“We urge Nigerians to go out and register for the e-dividend, they need to consolidate their multiple accounts as these are some of the ways they can get the benefits of investing in the market while also reducing the unclaimed dividends profile”.

“We also have the Direct Cash Settlement which makes it possible for investors accounts to be credited directly when there is a transaction. We have also migrated from physical share certificates to electronic ones. All these initiatives are geared towards marking our market perform better and ensure investors receive the benefits of their investments.

To protect investors SEC reiterated the need to perform proper checks before investing on products to avoid patronising fund managers that are not registered.