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SEC DG urges workers to invest in capital market

Acting DG SEC, Mary Uduk

The Acting Director-General of the Securities and Exchange Commission (SEC) Ms. Mary Uduk, has advised workers in the country to invest in the Nigerian capital market in a bid to create wealth and save towards their retirement.

The SEC boss gave the advice in her goodwill message to the workers as they celebrate the 2020 International Workers Day globally on Friday.

Specifically, Uduk urged the workers to deliberately set aside some portion of their earnings towards investing in the capital market to secure their financial future and guarantee them the benefits of returns on their investments. She said: “You have worked very hard to make our nation what it is today and I urge you to invest today and reap the benefits at retirement.”

The investment expert reiterated that capital market operations were still on-going in spite of the Covid-19 pandemic and urged workers to take advantage of the various opportunities for wealth creation that abound in the market.

According to her, the commission has adequate rules and regulations in place to ensure that workers’ investments were safe, adding that one of the responsibilities of the SEC is protecting the integrity of the capital market from all forms of abuse including insider dealing and market manipulations.

Uduk said the SEC also undertakes developmental activities to improve investor education and participation, promote new instruments and encourage innovation in the market. She assured: “Investors are also protected through the National Investors Protection Fund (NIPF)and Risk-Based supervision of capital market operators to ensure a transparent and efficient market in order to boost investors’ confidence.”

This is even as she disclosed that the Commission, in collaboration with other stakeholders in the financial system, was making efforts to come up with various initiatives to address the issues of financial literacy and financial inclusion in the market

The Acting DG stressed that the SEC, as the apex regulator of the capital market, shall continue to introduce new ideas and policies towards developing and regulating a capital market that is dynamic, fair, transparent and efficient, to contribute to the nation’s economic development.

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