Director-General of the Securities and Exchange Commission , Lamido Yuguda, stated this at the First Nigeria Employers Summit organised by the Nigeria Employers Consultative Association. He said credibility and stability are not guaranteed by market mechanisms alone, but also with appropriate regulation.
“Through its 10-year Capital Market Master Plan , which serves as the primary roadmap for the development of the Nigerian capital market, the commission has mapped out strategies to build a capital market that is the largest on the continent and one of the world’s deepest by 2025. “Recent ones include rules on investment-based crowdfunding, which created an enabling environment for capital raising by start-ups and on annual renewal of registration of Capital Market Operators to ensure only fit and proper persons operate in the Nigerian capital market”.
However, he noted that the capital market is making efforts to do more in the provision of long-term funds to develop infrastructure for the country and support developmental projects.