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The Acting Director-General of the Securities and Exchange Commission (SEC) , Ms Mary Uduk has applauded the Nigerian Stock Exchange (NSE) for its doggedness and tenacity that culminated in the formal launch of Association of Securities Exchanges of Nigeria (ASEN) on Wednesday in Lagos.
She described the part played by the Exchange as great, adding that it would improve efficiency, liquidity, settlement and deepen the capital market for rapid economic development. Uduk pledged to assist the Association to achieve its set goal in the Nigerian capital market as this would impact positively on the economy as well as the investing public. ” We are with you, we will stand by you, we are going to support you, you will not work alone”. The SEC Acting said.
Also speaking, Chairman, House committee on capital market and institutions, Mr. Yusuf Tajudeen said, We will be available where the law require tinkering so that the market will function the way it should for the overall development of the country. According to him, if this sector of the economy does not get it right, we won’t achieve the desired Eldorado being yearn for by the masses .
He called on capital market operators, stakeholders and market analyst not to be tired of reminding the law makers what to do as per law to improve the market. May the marriage work, I congratulate the Association, he added.
In a goodwill message, the Director-General of Debt Management Office (DMO) Mrs Patience ONIHA, said, “We believe in the capital market that is why Ia m here in person to support the launch. She commended the NSE CEO, Mr Oscar Onyema saying it is extremely a brilliant idea. Oniha said, as exchanges play a crucial role in the development of financial markets for investors, traders and issuers of securities all of which ultimately support economic growth and development, the association objective of advancing the domestic market is very important as the financial market should be well positioned to support the Government’s policy of a private sector led growth. As a major player in the market, the DMO looks forward to collaborating with the Association.to achieve its laudable objectives, Oniha said.
Earlier in his opening remarks, the NSE’s CEO, Mr Oscar Onyema said the Association has a lot to gain as it would enhance capacity building , collaborate to develop products and as information clearing House among others.
Membership of the association currently includes AFEX Commodities Exchange (AFEX), FMDQ OTC Securities Exchange (FMDQ), NASD OTC Securities Exchange (NASD), Nigeria Commodity Exchange (NCX) and The Nigerian Stock Exchange (NSE).
ASEN, is a non-profit industry association established to accelerate the development of domestic securities exchanges and support the Nigerian capital market to achieve greater global competitiveness.
Photo Caption: From Left; Hon. Yusuf Tajudeen, Chairman, House Committee on Capital Markets and institutions; Mrs. Patience Oniha, Director General, Debt Management Office (DMO); Mr. Bola Onadele Koko, Trustee, ASEN, CEO, FMDQ OTC Securities Exchange; Mrs. Zaheera Baba-Ari, Trustee Managing Director/CEO, Nigeria Commodity Exchange; Oscar N. Onyema OON, Chief Executive Officer, The Nigerian Stock Exchange (NSE); Mrs. Mary Uduk, Ag. Director General, Securities and Exchange Commission (SEC); Mr. Bola Ajomale, Trustee, ASEN, Chief Executive Officer, NASD Plc and Mr. Ayodeji Balogun, Trustee, Country Manager, AFEX Nigeria Limited during the Official Launch of the Association of Securities Exchanges of Nigeria (ASEN) at the Exchange on Wednesday.
