The Director General of the Securities and Exchange Commission (SEC), Mr. Mounir Gwarzo, has stated that the Nigerian Capital market is planning to create products that will encourage new investors to invest in the market.
Gwarzo, in an interview with CNBC Africa, in London, monitored in Abuja said this is also as efforts are being made to bring Pension Funds Administrators (PFAs) on to the Nigerian Stock Exchange (NSE) platform.
This, he said, will make the capital market competitive and attract more investors that will in turn improved the nation’s economy, just as he added that the commission is also working the possibilities of a unified corporate governance structure.
He said: “We still operate with very few products and one of the things we are doing is to as much as possible engage PenCom to come with guidelines for Pension Funds Administrators (PFAs) who will invest in those funds. We are aware that PFAs can only invest in an instrument that is secured. We will encourage development of new products in the market”.
He added that “One of the things our 10- year master plan is talking about is to create new products and we are doing all that is possible in this regard. We will religiously purse the 10 year master plan. It has been done in Malaysia, India, Brazil and they have become success stories. They have contributed in raising the standard of their capital market. It was done by all the key market operators.
“We are going to implement it religiously. We have started
Source : Leadership