The Securities and Exchange Commission (SEC) says it has commenced implementation of 66 out of the over 90 initiatives outlined in the Capital Market Master Plan, 13 of which had been successfully completed.
Mary Uduak, SEC’s Director-General, said this in a statement that some of the concluded initiatives were dematerialisation of shares, recapitalisation of capital market operators and setting up of a National Investment Protection Fund.
She said SEC had also been able to establish the West African Securities Regulators Association, among others.
She expressed optimism that many of the 55 initiatives at various stages of implementation would be concluded before the end of 2019.
The Securities and Exchange Commission in November 2014 launched a 10-year Capital Market Master plan.
The Commission at that time had just emerged from a bubble that negatively impacted the performance and confidence in the Nigerian capital market.
(NAN)