By Dipo Olowookere
As talks concerning the use of unclaimed dividends by the federal government continue to generate different reactions, investors have been assured of the safety of their investments in the Nigerian capital market.
Chairman of the House of Representatives Committee on Capital Market, Mr Babangida Ibrahim, this week said the National Assembly will not allow the wolves to devour investors.
Speaking when he paid a visit to the Lagos Commodities and Futures Exchange (LCFE) on Wednesday, the lawmaker assured that the parliament will do everything within its powers to support investors and make laws that will deepen the market.
He explained that one of the reasons for visiting the exchange and others was to familiarise with their workings in a bid to providing legislative support where necessary.
“Our purpose is to visit most of the exchanges and understand how they operate and see if there is any parliamentary intervention we can provide. The only way to save the economy is through capital market activities,” he stated.
According to him, 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.
Mr Ibrahim described the capital market as 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.
He urged investors not to fret about their unclaimed dividends as the parliament was committed to ensuring they receive the benefit for investing in the capital market.
In his remarks, the Chairman of LCFE, Mr Onyenwechukwu Ezeagu, said the need to fully realise the potential of the federal government’s drive towards the development of the agricultural and solid minerals sector and to tap the opportunities thereof brought about the initiative to establish the exchange, which will be well-positioned to support the Federal Government’s stride to create wealth and enhance the flow of foreign currency.
He assured that the bourse 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.
On his part, the Director-General of the Securities and Exchange Commission (SEC), Mr Lamido Yuguda, assured that the regulator was committed to working with the exchange to grow the commodities market.
According to him, the agency will collaborate with LCFE to develop all the rules needed to realise the potentials of the country in the area of commodities trading, adding that the responsibility of SEC was to ensure good market development, fair trading and investor protection.
“We 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
“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,” he stated.
Adedapo Adesanya 
Modupe Gbadeyanka