Why Nigeria’s Capital Market Is Attractive To Foreign Investors- JP Morgan

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Caption: From left to right, Executive Director, J.P Morgan, Mr Nick Long, Acting Director General, Securities and Exchange Commission, Ms. Mary Uduk, Chief Executive, Stanbic IBTC, Akeem Oyewale and Acting Executive Commissioner, Operations at the commission, Isyaku Tilde during a meeting between SEC and JP Morgan in Abuja at the weekend.

Executive Director of international capital market giants- JP Morgan, Nick Long, at the weekend expressed satisfaction with the performance of Nigeria’s capital market so far.

Speaking when representatives of the company and Stanbic IBTC visited the Securities & Exchange Commission in Abuja, Nick Long, Representative of JP Morgan said, is one reason Nigeria remains attractive to international investors.

Receiving the visitors at her office, acting Director General of SEC, Ms. Mary Uduk, assured foreign investors of the safety of their investments in the Nigerian capital Market.

All necessary controls, she assured, are in place to ensure that the market remains dynamic, free, fair and transparent for participants, noting that the Commission has embarked on several initiatives in a bid to ensure that investors in the market derive the benefits therein.

The implementation of the Capital Market Master Plan, Uduk continued, has led to significant changes in the market. Some of these implemented initiatives are dematerialization of share certificates, recapitalization of capital market operators, establishment of the National Investors Protection Fund and inauguration of its board, as well as launch of the Corporate Governance Scorecard.

Others are implementation of the e-Dividend Mandate Management System, establishment of Complaint Management Framework, transaction cost reduction, implementation of the direct cash settlement and the introduction of non-interest capital market products.

The Acting DG said the Commission has put in place a robust investor protection machinery with severe sanctions on infractions of securities laws.

“The implementation of this regime has led to the closure of various Ponzi schemes as well as the recovery of millions of naira belonging to innocent investors.

“SEC champions zero tolerance on infractions and we have a range of sanctions depending on the level of infraction and how egregious the breach is, ranging from warnings, fines, suspensions, withdrawal of registrations and jail terms.

“The idea is to improve transparency in the market and ensure that investors are safe”.

On surveillance, Uduk said the Commission has surveillance mechanisms in place to detect possible suspicious trading/market manipulation activities.

 https://investdata.com.ng/2018/06/nigerias-capital-market-attractive-foreign-investors-jp-morgan/#more

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