{"id":34852,"date":"2019-09-25T13:48:36","date_gmt":"2019-09-25T12:48:36","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=34852"},"modified":"2019-09-25T15:05:30","modified_gmt":"2019-09-25T14:05:30","slug":"new-products-will-deepen-capital-market-sec","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/new-products-will-deepen-capital-market-sec\/","title":{"rendered":"New Products Will Deepen Capital Market – SEC"},"content":{"rendered":"

Beyond the conventional capital market products of equities and bonds as well as manual regulatory processes, the players and regulators in the Nigerian capital market are introducing new and innovative processes and products.<\/p>\n

This was stated by Acting Director General of the Securities and Exchange Commission, SEC, Ms Mary Uduk during an excursion visit by students of Aduvie Pre University College, Modibbo Adama University, Yola and University of Abuja to the Commission, Wednesday.<\/p>\n

Uduk said capital markets across the world have products and mechanisms to stimulate economic growth and development. Although many of such products are available in Nigeria, there are aspects that are still untapped, thereby limiting the realization of our potential.<\/p>\n

She said it is for this reason that some of the processes of the SEC that were previously manual and inefficient are now being automated to make the market more attractive to investors.<\/p>\n

\u201cFor instance, with the dematerialization process completed, investors no longer need to not worry about the loss or damage to their physical share certificates as they are now electronically stored.<\/p>\n

\u201cFurther, the current e-Dividend system enables shareholders\u2019 dividend to be paid directly into their bank account without the stress of dealing with physical dividend warrants. Also, the Direct Cash Settlement protects investors from funds mismanagement by ensuring that the proceeds of their shares sales are credited directly into their own account as against that of the stockbroker.<\/p>\n

\u201cWe are equally working on ensuring that companies\u2019 annual reports are distributed electronically thereby ensuring timeliness of information to shareholders and cost reduction to public companies\u201d she stated.<\/p>\n

The Acting DG told the students that through the Commodities Trading Implementation Committee, the Commission has engaged the Standards Organizations of Nigeria to publicize the relevant\u00a0standards issued for Agricultural products, while warehouses have also been mapped to provide information on its availability and location.<\/p>\n

She stated that the SEC is working towards a future where the capital market would be used to solve challenges of misprizing and non-standardization of commodity products, as well as low foreign exchange earnings bedeviling the country\u2019s agricultural sector.<\/p>\n

The Acting DG also disclosed that the SEC has helped in coordinating the introduction of Capital Market Studies into curriculum of basic and senior secondary schools in Nigeria and further plans are ahead to do same for higher institutions.<\/p>

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\u201cLiteracy plays a significant role in financial inclusion which itself is a major component of economic development. Financial literacy and inclusion help people become financially independent and economically self-sufficient by aiding the underserved population, while raising their productivity and incomes\u201d she added.<\/p>\n

In his remarks, Head of Faculty (Social Sciences) Aduvie Pre University College, Abuja, Mr. Sixtus Onyekwere said Aduvie\u00a0Pre University College is\u00a0making a difference in the lives of the students adding that by bringing them to places like the\u00a0SEC, the school wants to educate them about operations of the capital market, so that they can understand from a young age how to engage in investment activities and\u00a0the\u00a0opportunities that many are ignorant about.<\/p>\n

He said, \u201cTo be rich in life, you need to start up your own business, invest in financial markets and learn about how money works.\u00a0No amount of\u00a0Schooling\u00a0will\u00a0teach\u00a0you about money\u00a0or what it takes to recognize opportunities for investment and become rich.<\/p>\n

\u201cTo get these educations,\u00a0you\u00a0need to\u00a0leave your school environment once a while to visit\u00a0places like the\u00a0Securities\u00a0and\u00a0Exchange\u00a0Commission, learn about its operations, get advice from accomplished entrepreneurs and interact with the real money makers. This\u00a0will teach\u00a0you\u00a0how money works and how\u00a0you\u00a0can\u00a0take advantage of the opportunities around you\u201d.<\/p>\n

By this, they can become the world\u2019s richest people of tomorrow and make positive contributions to communities, which will guarantee a better tomorrow for Nigeria. We want our students to actually succeed in life, and stand out among their peers.<\/p>\n

Onyekwere said in addition to producing good academic results, there is need to pursue\u00a0reduction in youth unemployment rate, community mindedness, pursuing entrepreneurship mindset,\u00a0great personality, personal branding, as well as building global leaders.<\/p>\n

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Photo Caption: From Left-Principal Manager, Investor Education Division Securities and Exchange Commission, Mr Ahaneku Ikechukwu, Divisional Head, Financial Inclusion Division Mr Archibong Bassey and Accounting Lecturer, Aduvie Pre-University College Abuja Mr Thomas Ayim during an Educational Visit of Aduvie Pre-University College to SEC in Abuja, Wednesday<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Beyond the conventional capital market products of equities and bonds as well as manual regulatory processes, the players and regulators in the Nigerian capital market are introducing new and innovative processes and products.<\/p>\n","protected":false},"author":6,"featured_media":34855,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,5130,1593,17,624],"tags":[575],"coauthors":[2391],"class_list":["post-34852","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-education","category-metro","category-news","category-politics","tag-sec"],"yoast_head":"\nNew Products Will Deepen Capital Market - SEC - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/new-products-will-deepen-capital-market-sec\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Products Will Deepen Capital Market - 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