{"id":41570,"date":"2020-07-19T13:59:17","date_gmt":"2020-07-19T12:59:17","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=41570"},"modified":"2020-07-19T13:59:17","modified_gmt":"2020-07-19T12:59:17","slug":"sec-working-to-attract-more-investors-yuguda","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/sec-working-to-attract-more-investors-yuguda\/","title":{"rendered":"SEC Working To Attract More Investors – Yuguda"},"content":{"rendered":"
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Director General of the Securities and Exchange Commission, SEC, Mr. Lamido Yuguda has pledged the determination of the current management of the Commission to make the capital market more accessible to Nigerians in a bid to attract more investors.<\/p>\n

Yuguda who spoke during an interview in Abuja weekend, said this would help attract more retail investors to the capital market and ensure steady growth.<\/p>\n

According to him, \u201cWe need to make operations in the capital market as easy as possible, that way we can attract investments.<\/p>\n

\u201cwe are aware that some investors have left their money due to the Herculean procedures involved in getting them, hence our desire to ensure that people are able to benefit from investments, with that, we can increase investor confidence. We will look at the processes involved and streamline them to ensure that investors are able to get their money without much difficulties.<\/p>\n

\u201cWhen that happens people can be motivated to come back to the market. Unless we are able to attract people back, we cannot get the capital market that we can be proud of. We should make our local individual investors the key to succeed in our quest to rebound the market. Local investors don\u2019t have anywhere to go to, and as long as they trust us, they will remain.<\/p>\n

He stated that the Commission has zero tolerance for sharp practices in the capital market and urged stakeholders to ensure that they operate according to laid down rules and regulations.<\/p>\n

“We will not condone sharp practices in the market, we will ensure that everyone plays by the rules as that is one of the ways we can attract these investors. Investors need to be protected, once we can do that, we will be able to take our market to greater heights.<\/p>

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He further stated that investor protection would be at the centre of the initiatives of the new management warning that any operator that short-changes investors would not go Scott free.

\u201cRetail investors are key to the development of the capital market in Nigeria and we want to assure investors that this market is for them and we are ready to do everything to ensure that we increase investor enlightenment through education, robust regulation and fair dealing\u201d<\/p>\n

\u201cWe have robust rules and regulations guiding conduct in the capital market. We therefore urge operators to obey these rules, but for those that want to defraud investors, there would be no respite because we are ready to fight market manipulation and sharp practices, anyone that flouts our rules will be made to face the consequences of their actions\u201d he stated.<\/p>\n

Yuguda further urged investors to key into the various initiatives already rolled out by the Commission including e-dividend, regularisation of multiple accounts, Direct Cash Settlement among others in other to have the benefit of their investments.<\/p>\n

The SEC Boss stated that the Commission introduced a forbearance window to enable investors that bought shares with different names to regularise their accounts in order to reduce the quantum of unclaimed dividends in the capital market.<\/p>\n

\u201cWe have told them that there is no penalty for doing so, as the SEC is not prosecuting anybody. All we want is for them to be able to get the benefits of their investments. However, many people have still not been able to claim their dividends because some of them have forgotten the names they used while others have not been able to prove to their stockbrokers that they are the owners of the shares.<\/p>\n

\u201cThe SEC has given such shareholders amnesty to go and claim their shares and as people are claiming those shares, unclaimed dividends number will go down. On our part, we will continue to persuade investors to regularise their accounts in order to curb the problem of unclaimed dividends\u201d.<\/p>\n<\/div>\n

Photo Caption: From Left–Director General, Securities and Exchange Commission\u00a0 \u00a0Mr Lamido Yuguda, Executive Commissioner Corporate<\/strong>\u00a0Services,\u00a0 SEC Mr Ibrahim Boyi, Executive Commissioner Operations\u00a0 SEC Mr Dayo Obisan and Deputy Director, Home Finance Department, Ministry of Finance, Budget and National Planning \u00a0Mr Ebade Atuola after a Meeting between SEC Management and the Minister of Finance in Abuja at the weekend<\/strong><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/p>","protected":false},"excerpt":{"rendered":"

Director General of the Securities and Exchange Commission, SEC, Mr. Lamido Yuguda has pledged the determination of the current management of the Commission to make the capital market more accessible to Nigerians in a bid to attract more investors.<\/p>\n","protected":false},"author":6,"featured_media":41571,"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":[17],"tags":[],"coauthors":[2391],"class_list":["post-41570","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news"],"yoast_head":"\nSEC Working To Attract More Investors - Yuguda - 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\/sec-working-to-attract-more-investors-yuguda\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC Working To Attract More Investors - 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