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Robust Regulation Is Crucial For Nigerian Capital Market Growth – Oteh

The Director General, Securities and Exchange Commission (SEC) Ms. Arunma Oteh, has reiterated the Nigerian bourses’ ambition to attract 500 new listings over the next five years in order to reach a market capitalization of $ 1 trillion in equities, bonds and exchange traded funds by 2016.

The Director, however, stated that the market would require a robust regulatory framework and proper enforcement of existing regulations in order to attract the required investment.

This was made known at the 4th Annual Nigeria Capital Markets and Regulations Seminar, hosted by Thomson Reuters, in association with JP Morgan, the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE).

On his part, Managing Director, Governance, Risk & Compliance, Middle East, Africa and Russia, Thomson Reuters, Pawan Hegde, acknowledged that the NSE’s plans were ambitious but noted that a key requirement of this growth strategy would be a sound regulatory framework to boost investor confidence and attract the desired level of investment.

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