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SEC Promises Better Tech Adoption At NSE
Published Mar 23, 2023 IN Business,
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BY AWELE OGBOGU

THE Securities and Exchange Com­mission (SEC), has pledged its commitment to ensuring that the na­tion’s capital market at­tains its full potential through advanced tech­nology.

Director General of SEC, Lamido Yuguda, stated this during a meeting with the man­agement team of Finan­cial Sector Deepening (FSD) Africa.

FSD Africa’s support centres on the develop­ment of capital markets master plans, conduct­ing institutional capacity assessments, and cre­ating capacity for sus­tainable finance such as green bonds, helping markets to adapt to their operating goals.

Yuguda expressed the commission’s delight with the support from FSD Africa in the areas of human resource trans­formation, information technology strategy as well as capital market master plan review. He disclosed that the master plan review has been concluded by PwC, adding that the imple­mentation of the initia­tive would deepen the market and improve its contribution to the na­tion’s economic growth.

“I cannot but express my support to FSD Af­rica for the various sup­port they have given to the commission in various areas. We are very excited about the Human Resource Trans­formation exercise as the report will assist the Commission in profound ways that will lead to optimal productivity of staff. What you are doing is commendable, you are looking at African finan­cial markets and trying to assist to ensure that productivity and devel­opment are enhanced. We, therefore, assure you that these invest­ments are well placed and we will continue to work to earn the confi­dence that you have in us,” he said.

He also stated that the review of the capital market master plans better positions the SEC to deliver on its regula­tory objectives in the challenging times.

He said: “The FSD Af­rica and SEC Nigeria’s laudable partnership underscores our mutual goals to build financial markets that are robust, efficient and above all-inclusive.” The SEC boss disclosed that the cur­rent management is also looking at other sources to promote market ef­ficiency and ensure that the aim of this support is not defeated. He said the commission has priori­tised the issue of human resource management to infuse a culture of excellence in the market. Thank you for the con­siderable assistance on IT. What we have done too is to explore domes­tic sources of funding for our IT infrastruc­ture and thankfully, we are making tremendous progress in that regard,” he added.

 

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