Monday, June 5, 2023
No Result
View All Result
SUBSCRIBE
eNaira Online News
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion
eNaira Online News
No Result
View All Result

Regulators Must Keep Tabs on Capital Market Dynamics—Yuguda

by e-Naira Online News
June 1, 2022
in Finance
Reading Time: 4 mins read
A A
0
Home Finance
Share on FacebookShare on Twitter


By Aduragbemi Omiyale

The Director-General of the Securities and Exchange Commission (SEC), Mr Lamido Yuguda, has tasked regulators in the West African region to keep pace with capital market dynamics by carrying out a regular assessment of policies and programmes to fit current realities and address the region’s peculiar challenges.

Speaking at the West African Capital Markets Conference with the theme Deepening and Strengthening the Capital Markets Across West Africa through Effective Regulation, he said the need for regular assessment necessitated the revision of the WASRA/WACMIC (West African Capital Markets Integration Council) Road Map to reflect current developments and include specific initiatives that will further improve the successful implementation of integration and other efforts.

At the event organised by the West Africa Securities Regulators Association (WASRA) and held in Accra, Ghana, Mr Yuguda said WACMaC periodically presents members with an opportunity to explore the role that financial markets should play in supporting the growth of the real sector of the respective economies and indeed the sub-region in general.

The SEC chief, who doubles as WASRA Chairman, stated that, “We are not unaware that in some member states, capital markets activities are still in their nascent stage.”

“In collaboration with ECOWAS, efforts are being made to encourage these jurisdictions to join WASRA. We intend to engage and partner with them to build capital markets that will support the growth and development of their respective countries while advancing our regional market integration efforts,” he added.

“As the region continues to expand in market size and influence, it becomes increasingly more important to focus our attention on developing world-class markets by looking at innovative ways to address critical issues such as systemic risk, market integrity, investor protection, fintechs and disruptive technologies.

“We must also be steadfast in our collective efforts to close the geographic distance between our markets through ways and means that facilitate regional integration,” the Nigerian stated further.

Mr Yuguda expressed delight at the high level of participation at the meeting emphasizing that the biennial conference is geared toward promoting robust discussions on how to harness resources and effectively optimize collective efforts towards the integration of markets in the region.

This, he stated, will no doubt lead to the realization of a key outcome, namely, an increase in capital markets’ contribution to the economic growth and development of the region.

“You will recall that at our inaugural conference in Abidjan, Cote d’Ivoire, we resolved to continually strive to create an environment that facilitates cross-border securities transactions; strengthen investor protection; build capacity; be more innovative with our processes, among others.

“To this end, we have made significant progress by adopting strategic initiatives aimed at boosting the economy, generating wealth, improving infrastructure development and growing trust and confidence as we strive for a deeper and more resilient capital market” he added.

In his address, the DG of the Securities and Exchange Commission, Ghana, Mr Daniel Ogbarmey Tetteh, said the journey to achieve an integrated capital market in the West Africa sub-region began some nine years ago with the overarching goal of creating a regional capital market that would create the platform for various issuers including corporates, governments, regional development bodies, agencies and multilateral to raise relatively cheap capital to fund regional infrastructural projects, corporate expansion and private sector development, cross-border trade and overall economic development of the sub-region.

According to him, “everyone who is participating in this conference has a sense of an appreciation of the important role capital markets play in the mobilization of long term capital in the financing mix of any economy so there is no need to preach to the choir here. The focus of this conference, and rightly so, is on how effective regulation can enable the deepening and strengthening of the capital markets in the sub-region.”

“Any weak link in the regulatory regime in an integrated market can spell doom and hence the need for a lot of effort to be channelled into developing a harmonized set of rules and regulations, the application of best practice in the regulation of securities markets and pursuit of robust cooperation to avoid regulatory arbitrage, protect investors as well as the integrity of the capital markets,” he added.

Mr Tetteh, therefore, called on all the member states of ECOWAS, to get on board as they pursue this noble path to achieve an integrated market in the sub-region.

“No one would do it for us so we owe it to ourselves to assume the responsibility. The good news is that we can do it so let’s go for it. Your very strong participation in this conference says something about commitment to the cause so there’s hope that the dream would become reality,” he stated.

Like this:

Like Loading…

Related





Source link

Tags: CapitalDynamicsYugudaMarketRegulatorsTabs
Previous Post

Nigeria-Namibia trade hits $10 million annually 

Next Post

Okomu Oil, Conoil among worst equities as Nigeria’s capital market extends losing streak

Related Posts

Nigeria’s foreign trade falls to N12 trillion in Q1 2023
Finance

Nigeria’s foreign trade falls to N12 trillion in Q1 2023

by e-Naira Online News
June 5, 2023
In 22nd Trading Week of 2023, NASD Swells by N20.35bn
Finance

In 22nd Trading Week of 2023, NASD Swells by N20.35bn

by e-Naira Online News
June 5, 2023
UNICEF, Access Bank, others mobilise funds to educate vulnerable children
Finance

UNICEF, Access Bank, others mobilise funds to educate vulnerable children

by e-Naira Online News
June 5, 2023
Leadway Pensure sees growth in RSA holders and assets under management in 2022
Finance

Leadway Pensure sees growth in RSA holders and assets under management in 2022

by e-Naira Online News
June 5, 2023
Senate queries AGF over N910bn MDAs loan
Finance

Senate queries AGF over N910bn MDAs loan

by e-Naira Online News
June 5, 2023
Next Post
Okomu Oil, Conoil among worst equities as Nigeria’s capital market extends losing streak

Okomu Oil, Conoil among worst equities as Nigeria’s capital market extends losing streak

European exchange Bitvavo links with Mercury Redstone to allow easy access to crypto indices » CryptoNinjas

European exchange Bitvavo links with Mercury Redstone to allow easy access to crypto indices » CryptoNinjas

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Why new Kano Governor, Abba Yusuf is seizing public assets sold by Ganduje

Why new Kano Governor, Abba Yusuf is seizing public assets sold by Ganduje

May 30, 2023
Dollar To Naira Exchange Rate Today (Wed. May 31, 2023)

Dollar To Naira Exchange Rate Today (Wed. May 31, 2023)

May 31, 2023
Nigeria’s foreign trade falls to N12 trillion in Q1 2023

Nigeria’s foreign trade falls to N12 trillion in Q1 2023

June 5, 2023
African Development Bank To Extend Nearly $1m In Gender-Based Grants

African Development Bank To Extend Nearly $1m In Gender-Based Grants

June 5, 2023
Treasury Bills Buying Deepens Ahead Of CBN Auction

Treasury Bills Buying Deepens Ahead Of CBN Auction

June 5, 2023
Nigerian Breweries Plc To Acquire 80% Stake In Distell Wines and Spirits Nigeria Limited

Nigerian Breweries Plc To Acquire 80% Stake In Distell Wines and Spirits Nigeria Limited

June 5, 2023
The politics of subsidy, moribund refineries and independent marketers

The politics of subsidy, moribund refineries and independent marketers

June 5, 2023
Ignite Investments increase buyout price of Ardova shareholders

Ignite Investments increase buyout price of Ardova shareholders

June 5, 2023
Petrol subsidy removal: Sanwo-Olu asks NLC not to politicize the planned strike, calls for restraint

Petrol subsidy removal: Sanwo-Olu asks NLC not to politicize the planned strike, calls for restraint

June 5, 2023
In 22nd Trading Week of 2023, NASD Swells by N20.35bn

In 22nd Trading Week of 2023, NASD Swells by N20.35bn

June 5, 2023

Get the free newsletter

eNaira Online News

Get the latest news and follow the coverage of eNaira, Business & Financial, Stock Market, Analysis, and more from the trusted sources.

CATEGORIES

  • Banking
  • Business
  • Capital Market
  • Companies
  • Crypto
  • eNaira
  • Finance
  • Opinion
  • Personal Finance
  • Real estate
  • Uncategorized
No Result
View All Result

GET THE FREE NEWSLETTER

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 e-Naira Online News.
e-Naira Online News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • eNaira
  • Capital Market
  • Business
  • Finance
  • Banking
  • PF
  • Companies
  • Crypto
  • Real Estates
  • Opinion

Copyright © 2022 e-Naira Online News.
e-Naira Online News is not responsible for the content of external sites.