SEC Promises to Intensify Awareness on Investor Protection

By Aduragbemi Omiyale

The Securities and Exchange Commission (SEC) has assured that it would do everything within its powers to put in place the necessary tools to protect the interests of investors in the Nigerian capital market.

The Director-General of SEC, Mr Lamido Yuguda, said investor protection was paramount in the agenda of the agency under his leadership.

Speaking at the digital closing gong ceremony on Monday, November 22, 2021, at the Nigerian Exchange (NGX) Limited in commemoration of World Investor Week (WIW), Mr Yuguda said this move is to boost the confidence of investors in the market.

He thanked the exchange and the entire capital market community for providing the platform and supporting the SEC in its efforts to build a safe and vibrant capital market.

“The theme of this year’s World Investor Week is timely given the spate of fraudulent schemes being attempted in the market today.

“At SEC, we continue to collaborate with stakeholders to educate the public and raise the necessary awareness to ensure investors can indeed protect themselves,” the SEC DG, who was represented by the Executive Commissioner, Operations, SEC, Mr Dayo Obisan, stated.

Also speaking, the Divisional Head, Listings Business, NGX Limited, Mr Olumide Bolumole, stated that, “NGX is pleased to join the apex regulator of the Nigerian capital market, the SEC and all securities exchanges in Nigeria to Ring the Bell for Financial Literacy in honour of SEC’s commemoration of the 2021 World Investor Week.

“Financial literacy and inclusion remain a top priority for us at NGX and we continue to make it a priority to contribute our quota towards the achievement of key targets of Nigeria’s National Financial Inclusion Strategy through initiatives that encourage the wider investing public to develop investment habits.

“As the sustainable exchange championing Africa’s growth, we are, therefore, pleased to support the SEC on this laudable initiative.”

It would be recalled that NGX commemorated World Investor Week from October 4 – 10, 2021, by implementing a number of activities including hosting a free webinar and an Instagram live session on how retail investors can take advantage of the opportunities in the capital market and make sustainable investing. Its activities culminated in a virtual Ring the Bell for Financial Literacy with co-founder and Chief Operating Officer, PiggyVest, Odunayo Eweniyi.