SEC Commends NSE For ASEN Launch

August 8, 2018/SEC

The Acting Director-General of the Securities and Exchange Commission (SEC) , Ms Mary Uduk has applauded the Nigerian Stock Exchange (NSE) for its doggedness and tenacity that culminated in the formal launch of Association of Securities Exchanges of Nigeria (ASEN) on Wednesday in Lagos.

She described the part played by the Exchange as great, adding that it would improve efficiency, liquidity, settlement and deepen the capital market for rapid economic development. 

Uduk therefore pledged to assist the Association to achieve its set goals in the Nigerian capital market as this would impact positively on the economy as well as the investing public. 

”We are with you, we will stand by you, we are going to support you, you will not work alone”. She stated.

Also speaking, Chairman, House committee on capital market and institutions, Mr. Yusuf Tajudeen said the lawmakers will be available where the law requires tinkering so that the market will function the way it should for the overall development of the country. 

According to him, if this sector of the economy does not get it right, we won’t achieve the desired Eldorado being yearn for by the masses.

He called on capital market operators, stakeholders  and market analyst not to be tired of reminding the law makers what needs to be done in the area of lawmaking to improve the market.

Earlier in his opening remarks, the NSE’s CEO, Mr Oscar Onyema said the Association has a lot to gain as it would enhance capacity building , collaborate to develop products and as information clearing House among others.

Membership of the association currently includes AFEX Commodities Exchange (AFEX), FMDQ OTC Securities Exchange (FMDQ), NASD OTC Securities Exchange (NASD), Nigeria Commodity Exchange (NCX) and The Nigerian Stock Exchange (NSE).

ASEN, is a non-profit industry association established to accelerate the development of domestic securities exchanges and support the Nigerian capital market to achieve greater global competitiveness.

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