Fiscal consolidation and Transition. The director-general of SEC, Mr. Lamido Yuguda stated this in an interview in Abuja at the weekend. Yuguda disclosed that the Nigerian equities market ended the year 2022 on a positive note with a growth of 19.98 percent, while the FMDQ, despite the headwinds in the economy, recorded a total market turnover of N199.88 trillion by year-end, which was an increase of half percentage point compared to N198.93 trillion in 2021.
While stating that the year 2022 was a turbulent one that brought with it increased inflationary pressure and consequent increase in interest rates for the global economy, he, however, expressed optimism that inflationary pressures would be managed in the not too distant future. He stated that the global stock market posted its biggest annual drop since the 2008 financial crisis, with the MSCI World Index of stocks losing about a fifth of its value during 2022, the worst performance in 14 years.
that the SEC will apply zero tolerance to money laundering, terrorism and proliferation financing violations. According to him, “we must all ensure that we continue with the implementation of the revised Capital Market Master Plan , alongside the implementation of other initiatives. Over the years, we have relied on the support of CAMMIC, Technical Committees and Working Groups in the implementation of the Master Plan.