SEC, FSD Begin Review of Capital Market Master Plan

Read Time:2 Minute, 16 Second
SEC, FSD Begin Review of Capital Market Master Plan
Want create site? Find Free WordPress Themes and plugins.

The Securities and Exchange Commission, Nigeria (SEC Nigeria) and Financial Sector Deepening (FSD) Africa have announced the a joint review of Nigeria’s 10-year Capital Markets Master Plan (CMMP) to support the country’s economic resilience amid new economic challenges including lower oil prices and the COVID-19 pandemic on Thursday.
The review of the CMMP will see SEC Nigeria work with FSD Africa’s Regulator Support Programme to develop a revised 10-year CMMP that will strengthen Nigeria’s capital market and its capacity for capital mobilization. The CMMP provides a vision for the market, as well as a roadmap for its global competitiveness. The process will involve an assessment of progress made since the plan’s implementation to date and engagement with stakeholders for input. This will result in the introduction of more stringent tools to measure the plan’s progress against objectives, and the inclusion of new challenges, opportunities and risks related to the current operating  environment. The review of the CMMP comes in response to changes in the economic and market circumstances upon which the plan was originally based when it was launched in 2015. These include the effects of lower oil prices on Nigeria’s economy as well as a slowdown in economic activity due to the COVID-19 pandemic. The introduction of new initiatives and products will help to improve the liquidity and depth of Nigeria’s capital market. FSD Africa’s support comes as part of its ongoing multi-country programme to strengthen Africa’s capital markets. The programme is centred on the development of capital markets master plans, conducting institutional capacity assessments, and creating capacity for sustainable finance such as green bonds, helping markets to adapt to their operating climate. Evans Osano, Director.  Capital Markets at FSD Africa, said: “This review will give market stakeholders in Nigeria a unique opportunity to not only take stock of the plan’s results so far, but also grow and respond to previously unforeseen economic developments. As FSD Africa works to support and regulate financial markets in Sub-Saharan Africa, we are excited to be partnering with SEC Nigeria to enable them to strengthen the country’s capital market during a time of immense upheaval.” Lamido Yuguda, Director General SEC Nigeria said: “The implementation of the Capital Market Master Plan will deepen our market and improve the capital market’s contribution to our economic growth and national development. To this end, the review of the Capital Market Master Plan will better position the SEC to deliver on the objectives in these very challenging times. The FSD Africa and SEC Nigeria’s laudable partnership underscores our mutual goals to build financial markets that are robust, efficient and above all,  inclusive”.

Did you find apk for android? You can find new Free Android Games and apps.

Leave a Reply

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