SEC, Lawyers Partner to Deepen Capital Market Operations

By Modupe Gbadeyanka

The Securities and Exchange Commission (SEC) has agreed to partner with members of the Nigerian Bar Association (NBA) to deepen understanding of the capital market in the country among youths and citizens.

Recently, Chairman of the NBA Section on Business Law (SBL), Mr Olumide Akpata, led his group to the SEC head office in Abuja.

During the meeting, the lawyers agreed to work with the nation’s apex capital market regulator to ensure free, fair and transparent market, which in turn further boost confidence of investors.

He commended SEC management on their efforts in ensuring that lawyers were carried along on issues relating to rules and regulations in the capital market.

A statement issued by the Acting Head of Corporate Communications at SEC, Mrs Efe Ebelo, quoted Mr Akpata as saying that, “The NBA-SBL has embarked on a number of initiatives like its annual conference and the setting up of various committees to build capacity in business law.

“We are building capacity among our members to assist in capital market operations and we hope to partner with SEC to deepen this understanding.

“We also go to the Nigeria Law School to mentor the students on the operations of capital market and we are working with the Nigeria Stock Exchange to get a proper framework.

“We are also contemplating a collaboration with the National Institute of Advanced Legal Studies (NIALS) to commence a diploma in advanced commercial law.

“This will enable our people to better understand the workings of the capital market.”

In her remarks, the SEC spokesperson said the role of lawyers in the capital market cannot be overemphasised.

She solicited support of the lawyers and encouraged them to impart the knowledge gained from conferences abroad for easy operations of the market.

According to her, SEC was ready to support actions that would help deepen and grow the Nigerian capital market, describing lawyers as one of the key stakeholders in the sector.

“Lawyers are key players in the transactional processes which permeate the world of capital markets.

“They advise debt and equity issuers and the investment banks which structure and sell the financial instruments,” Mrs Uduk said.

She urged them to be more involved in the structuring of transactions and the structuring and drafting of legal documents, noting that in other climes, lawyers were at the forefront of capital market transactions, and Nigeria’s case should not be different.