Chairman house committee on capital markets and institutions, Babangida Ibrahim emphasised the need to strengthen the regulatory framework in the capital market in a bid to attract wide array of investments under a secured and transparent environment.
This is due to the vital role that capital markets play in the growth and development of the economy.
This was stated by Ibrahim during a stakeholders meeting on the Investments and Securities Bill held in Lagos, yesterday.
According him, “our presence at this meeting today is to review the current developments in the Nigerian Capital Market and also dissect the content of the Investments and Securities Bill, 2021 and make appropriate contributions towards strengthening and enhancing the regulatory and supervisory framework of the SEC as the umpire of the Capital Markets.
He assured stakeholders of the National Assembly’s support in any area of legislation necessary to actualize the vision of the SEC to make the investment and securities businesses in Nigeria better.
The director-general of SEC, Mr. Lamido Yuguda expressed the need for a legislation that would address the current realities and prepare the Nigerian capital market for the prospective changes that is likely to come in the near future.
Yuguda said the significance of the capital markets cannot be over emphasised as governments need the capital market to work with it to deliver the goods and services that nations need.