SEC, NBA to partner on capital market development.

The Securities and Exchange
Commission, SEC, has announced
plan to work together with the
Nigeria Bar Association (NBA) to
facilitate capital market
development.
Consequently, the commission and
the NBA have reached an
agreement to set up a standing
committee for the purpose of
developing the market.
The Director-General of SEC, Ms.
Arunma Oteh, made the
announcement while receiving the
NBA president, Augustine Alege,
and some members of his
executive in her Abuja office.
She explained that said the
partnership is essential for the two
organizations and the country in
general to drive the present
administration’s transformation
agenda.
Oteh said Nigeria’s capital market
has had big issues that have
affected the integrity of the market,
saying that the timing is perfect
for the SEC and the NBA to look at
ways of collaborating in the
interest of investors and the
country’s economic development.
“The timing is right for us to look
at how we can strengthen the
relationship due to the value of the
legal profession in fostering the
rule of law in the society and the
markets and the value of the
capital market in transforming our
economy. We can’t have a country
that has such great potentials, has
men and women that are
entrepreneurs and still have a
market this small.
“Nigerians by nature are business
men; the capital market, in
collaboration with the legal
profession, should help to promote
such businesses so that there is
integrity and these businesses can
grow to their full potentials by
leveraging on the capital market.
One area that people are beginning
to talk about is the value of wealth
distribution and addressing income
inequality.”