{"id":45320,"date":"2020-12-09T19:34:17","date_gmt":"2020-12-09T18:34:17","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=45320"},"modified":"2020-12-09T19:34:17","modified_gmt":"2020-12-09T18:34:17","slug":"we-need-to-develop-our-capital-market-lawmaker","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/we-need-to-develop-our-capital-market-lawmaker\/","title":{"rendered":"We need to Develop our Capital Market- Lawmaker\u00a0"},"content":{"rendered":"

The need for Nigeria to develop the capital market in a bid to accelerate economic growth and tackle the infrastructural challenges bedevilling the nation, has again been emphasised.<\/p>\n

Chairman House of Representatives Committee on Capital Market and other Institutions, Mr. Babangida Ibrahim stated this during a visit to the Lagos Commodities and Futures Exchange in Lagos, Wednesday.\u00a0<\/span><\/p>\n

Mr. Ibrahim said the lawmakers decided to visit the Exchanges to familiarise with their workings in a bid to providing legislative support where necessary.\u00a0<\/span><\/p>\n

The. Chairman said capital markets broaden access to economic prosperity by enabling the emergence of financially responsible citizens, accelerating wealth creation and wealth distribution, providing capital to Small and Medium Scale Enterprises (SMEs), and catalysing housing finance.\u00a0<\/span><\/p>\n

He further stated that capital market is a critical sector that contributes to macro-economic and financial system stability by fostering the diversification of economies and raising their capacity to absorb volatile capital flows.<\/span><\/p>\n

\u201cOur purpose is to visit most of the exchanges and understand how they operate snd see if there is any parliamentary intervention we can provide. The only way to save the economy is through capital market activities\u201d he stated.<\/span><\/p>\n

On the issue of unclaimed dividends, Ibrahim said the National Assembly is committed to supporting investors in ensuring that they receive the benefit for investing in the capital market.\u00a0<\/span><\/p>\n

In his remarks, Director General of the Securities and Exchange Commission, Mr. Lamido Yuguda described the development of a vibrant and efficient commodities trading ecosystem as<\/span> a major driver of economic growth and development.<\/p>\n

Yuguda assured that the regulator is committed to working with the Exchange to grow the commodities market.<\/span><\/p>

\r\n
Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

According to him, \u201cThis visit is a demonstration of the commitment both the legislative arm of government and the regulator have to the development of the capital market of which the commodities market is important<\/span><\/p>\n

\u201cWe are impressed with what we have seen here today. We have engaged them for the past one year and are aware they have been working hard to make this exchange successful\u201d<\/span><\/p>\n

He said the SEC is willing\u00a0 to work with LCFE to develop all the rules needed to realise the potentials of the country in the area of commodities trading, adding that the\u00a0 responsibility of SEC is to ensure good market development, fair trading and investor protection.\u00a0<\/span><\/p>\n

\u201cWe are working to get appropriate rules that will enhance the operations of the Exchange. In a bid to ensure the relevant standards required are approved by the SON, we are engaging them and pulling our weight to ensure increased visibility of our commodities in the international market\u00a0<\/span><\/p>\n

“We need to get the foundation right and are ready to assist you in any way to ensure that we get this right, as this will lead to a more vibrant economy for us in the years to come\u201d he stated.<\/p>\n

Speaking earlier, Chairman of LCFE, Chief Onyenwechukwu Ezeagu said the need to fully realise the potential of the Federal Government\u2019s drive towards the development of the agricultural and solid minerals sector and to tap the opportunities there of, brought about the initiative to establish a Commodities\u00a0 and Futures Exchange, which will be well positioned to support the Federal Government\u2019s stride to create wealth and enhance flow of foreign currency.\u00a0<\/span><\/p>\n

Ezeagu said the Exchange will redefine practise standards of the Nigerian commodities ecosystem and give hope to producers of commodities who are constantly searching for ways to offload and improve on their commodities.\u00a0<\/span><\/p>\n

Photo caption: From left; Director General of the Securities and Exchange Commission, Mr. Lamido Yuguda, Chairman House of Representatives Committee on Capital Market and other Institutions, Mr. Babangida Ibrahim and Chief Onyenwechukwu Ezeagu during the ringing of the closing bell at the Lagos Commodities and Futures Exchange in Lagos.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The need for Nigeria to develop the capital market in a bid to accelerate economic growth and tackle the infrastructural challenges bedevilling the nation, has again been emphasised.\u00a0<\/p>\n","protected":false},"author":6,"featured_media":45321,"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":[7886],"coauthors":[2391],"class_list":["post-45320","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-commodities-market"],"yoast_head":"\nWe need to Develop our Capital Market- Lawmaker\u00a0 - National Wire<\/title>\n<meta name=\"description\" content=\"The need for Nigeria to develop the capital market in a bid to accelerate economic growth and tackle the infrastructural challenges b\" \/>\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\/we-need-to-develop-our-capital-market-lawmaker\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"We need to Develop our Capital Market- Lawmaker\u00a0 - National Wire\" \/>\n<meta property=\"og:description\" content=\"The need for Nigeria to develop the capital market in a bid to accelerate economic growth and tackle the infrastructural challenges b\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/we-need-to-develop-our-capital-market-lawmaker\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-09T18:34:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2020\/12\/image0.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"768\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Friday Ekeoba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/we-need-to-develop-our-capital-market-lawmaker\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2020\/12\/image0.jpeg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2020\/12\/image0.jpeg\",\"width\":1080,\"height\":768},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/we-need-to-develop-our-capital-market-lawmaker\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/we-need-to-develop-our-capital-market-lawmaker\/\",\"name\":\"We need to Develop our Capital Market- Lawmaker\u00a0 - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/we-need-to-develop-our-capital-market-lawmaker\/#primaryimage\"},\"datePublished\":\"2020-12-09T18:34:17+00:00\",\"dateModified\":\"2020-12-09T18:34:17+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\"},\"description\":\"The need for Nigeria to develop the capital market in a bid to accelerate economic growth and tackle the infrastructural challenges b\",\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/we-need-to-develop-our-capital-market-lawmaker\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/we-need-to-develop-our-capital-market-lawmaker\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/we-need-to-develop-our-capital-market-lawmaker\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"We need to Develop our Capital Market- Lawmaker\u00a0\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\",\"name\":\"Friday Ekeoba\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"We need to Develop our Capital Market- Lawmaker\u00a0 - National Wire","description":"The need for Nigeria to develop the capital market in a bid to accelerate economic growth and tackle the infrastructural challenges b","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/we-need-to-develop-our-capital-market-lawmaker\/","og_locale":"en_US","og_type":"article","og_title":"We need to Develop our Capital Market- Lawmaker\u00a0 - National Wire","og_description":"The need for Nigeria to develop the capital market in a bid to accelerate economic growth and tackle the infrastructural challenges b","og_url":"https:\/\/nationalwire.com.ng\/sub\/we-need-to-develop-our-capital-market-lawmaker\/","og_site_name":"National Wire","article_published_time":"2020-12-09T18:34:17+00:00","og_image":[{"width":1080,"height":768,"url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2020\/12\/image0.jpeg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Friday Ekeoba","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/nationalwire.com.ng\/sub\/#website","url":"https:\/\/nationalwire.com.ng\/sub\/","name":"National Wire","description":"About Nigerians, Nigerian Business and Other Stories","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationalwire.com.ng\/sub\/we-need-to-develop-our-capital-market-lawmaker\/#primaryimage","url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2020\/12\/image0.jpeg","contentUrl":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2020\/12\/image0.jpeg","width":1080,"height":768},{"@type":"WebPage","@id":"https:\/\/nationalwire.com.ng\/sub\/we-need-to-develop-our-capital-market-lawmaker\/#webpage","url":"https:\/\/nationalwire.com.ng\/sub\/we-need-to-develop-our-capital-market-lawmaker\/","name":"We need to Develop our Capital Market- Lawmaker\u00a0 - National Wire","isPartOf":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nationalwire.com.ng\/sub\/we-need-to-develop-our-capital-market-lawmaker\/#primaryimage"},"datePublished":"2020-12-09T18:34:17+00:00","dateModified":"2020-12-09T18:34:17+00:00","author":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927"},"description":"The need for Nigeria to develop the capital market in a bid to accelerate economic growth and tackle the infrastructural challenges b","breadcrumb":{"@id":"https:\/\/nationalwire.com.ng\/sub\/we-need-to-develop-our-capital-market-lawmaker\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationalwire.com.ng\/sub\/we-need-to-develop-our-capital-market-lawmaker\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/nationalwire.com.ng\/sub\/we-need-to-develop-our-capital-market-lawmaker\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationalwire.com.ng\/sub\/"},{"@type":"ListItem","position":2,"name":"We need to Develop our Capital Market- Lawmaker\u00a0"}]},{"@type":"Person","@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927","name":"Friday Ekeoba","url":"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/"}]}},"_links":{"self":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/45320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/comments?post=45320"}],"version-history":[{"count":1,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/45320\/revisions"}],"predecessor-version":[{"id":45322,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/45320\/revisions\/45322"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media\/45321"}],"wp:attachment":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media?parent=45320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/categories?post=45320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/tags?post=45320"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/coauthors?post=45320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}