The Chairman of the Senate Committee on Capital Market and Institutions, Osita Izunaso, has promised to spearhead legislative changes that will strengthen the Capital market in Nigeria.
He called on stakeholders to collaborate in order to achieve shared goals and stressed the role that the capital market plays in fostering economic success.
Izunaso intends to examine the National Assembly’s legal frameworks, which include the bills pertaining to investments and securities, CIS, and private companies conversion and listing (PCCL).
Additionally, he underlined the necessity of educating the public about the advantages of stock market investing and the significance of legislative actions as a means of encouraging businesses to list on the exchange.
The Securities and Exchange Commission (SEC) Director General, Lamido Yuguda, gave the NGX Group assurances that the SEC would fortify its regulatory framework in order to bolster the Exchange and expand the market.
He underlined that in order to realize the market’s full potential, cooperation between the government regulatory agencies and industry players is required.
The significance of legislative interventions to promote dollar-denominated transactions, the role of the capital market in revenue mobilization and tax compliance, and the introduction of derivatives as tools to reduce market volatility were underlined by NGX Group Chairman Umaru Kwairanga and Group CEO Temi Popoola.
