The Securities and Exchange Commission has demanded that more businesses list on the Nigerian Exchange in an effort to support the Federal Government’s $1 trillion economic ambition and fortify the capital market.
This was disclosed by the Director-General of the SEC, Emomotimi Agama during his first post-Capital Market Committee briefing held in Lagos at the weekend, according to The Punch.
He called on the exchanges to be proactive in drawing additional companies to the market and emphasized the commission’s resolve to support new listings.
“We must encourage more companies to list on the exchange to enhance market liquidity and overall market activity. Expanding market participation through additional listings will unlock the full potential of Nigeria’s capital market, which aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu’s administration,“ Agama said.
The SEC chairman highlighted several steps intended to speed up and improve the efficiency of the commission’s rule-making process, noting
“These include defragmenting existing rules and codifying them into a comprehensive rule book.”
He added that the commission was updating regulations on digital assets, setting guidelines for the ongoing banking recapitalisation, and developing a framework for onboarding virtual assets service providers.
Agama advised capital market operators to upgrade trading platforms and enhance data dissemination by making investments in cutting edge technologies.
“To maintain market competitiveness and efficiency, operators must embrace modern technology that can drive seamless trading and real-time information flow,” he opined.
