Left to right: Acting Executive Commissioner Legal and Enforcement, Securities and Exchange Commission, SEC, Mr. Reginald Karawusa, Acting Executive Commissioner Corporate Services, SEC, Mr. Henry Rowlands, Acting Director General, SEC, Ms. Mary Uduk and Acting Executive Commissioner Operations, SEC, Mr. Isyaku Tilde at the Second Quarter Post Capital Market Committee Meeting Press Briefing in Lagos, Weekend.

By Ngozi Onyeakusi. — The Securities and Exchange Commission (SEC) says it is collaborating with the University of Lagos in organizing a 2day conference aimed at leveraging the capital market for economic growth and development.
This, among others is the fallout of the second quarter Capital Market Committee (CMC) meeting held in Lagos.
Briefing the media Friday, the acting DG of the SEC, Ms. Mary Uduk noted that the event which is slated for 11th and 12th of next month seeks to stimulate exchange of ideas between the academia and stakeholders.

She equally stated that the West Africa Securities Regulators Association (WASRA) will hold its inaugural biennial West Africa Capital Market Conference (WACMaC) in Abidjan Cote d’Ivoire, from the 27th to the 29th of October, 2019.

Uduk pointed out that the commission in performing its mandate, had within the quarter carried out enforcement action against Dandata Success, Profitable Company and Tinubu Investment Scheme.

Speaking further Uduk opined that the Nigerian capital market had within the period signed a Memorandum of Understanding (MoU) with the Nigerian Financial Intelligence Unit (NFIU) to collaborate in combating crime in the market. The MoU is to also ensure that suspicious transactions are eradicated from the capital market, she said.

She assured that the collaboration was necessary in order to close ranks in the face of insider dealings, re-awakening of Ponzi schemes, cybercrime and other fraudulent activities that have engulfed the market in the last few years.

Uduk said the Commission was paying close attention to digital transactions and was in the process of amending its rules to capture such transactions.