January 30, 2023

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Finance minister to launch revised capital market grasp plan


The Minister of Finance, Price range and Nationwide Planning Mrs. Zainab Ahmed is to launch the Revised Capital Market Grasp Plan that’s anticipated to be the Roadmap for the capital marketplace for the following few years. 

That is additionally because the Securities and Change Fee has scheduled to carry the Third Quarter Capital Market Committee Assembly.

Each occasions are scheduled to carry on Thursday November 24,2022 on the Lagos Continental Resort. 

The ten-12 months Grasp Plan which was launched in 2014 is being revised to mirror the dynamism of the market and developments in monetary expertise, amongst others.

In keeping with the Director Basic of the SEC, Mr. Lamido Yuguda, the Revised Capital Market Grasp Plan 2015-2025 (RCMMP), developed by the Securities and Change Com- mission (SEC) Nigeria in collaboration with stakeholders, captures the challenges of our capital market in actualizing its function to drive nationwide financial development and extra importantly, gives a blueprint to harness these alternatives to raised place the capital market because the engine of our financial development and growth.

Yuguda stated, “The primary 5 years of the unique Capital Market Grasp Plan 2015-2025 (CMMP) implementation targeted on market and governance reforms within the aftermath of the worldwide monetary crises of 2008 and the Nigerian market correction that con- tinued into 2009, with important success. Throughout that interval, inventory certificates have been dematerialized, dividend manage- ment was automated, company governance requirements have been improved, intermediaries have been strengthened via revised capital necessities and danger based mostly supervision, amongst a number of different initiatives applied below the CMMP.

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“At present, we face new challenges and alternatives. The pursuit of innovation and development requires that we’re open to alternatives and dangers. Our selections are restricted if we solely search alternatives inside our conventional boundaries. Sim- ilarly, we inhibit our means to develop if we don’t curtail the

threats of unregulated danger taking. Selling entrepreneurial and revolutionary outcomes, subsequently, requires balancing our openness and extra urge for food for risk-taking with the crucial want to guard buyers. It is very important contextualize our aspirations throughout the basic targets of market integ- rity and investor safety whereas pursuing financial development. The RCCMP has supplied a framework and outlined strategic initiatives that may assist embrace and unlock these opportuni- ties in our capital market.

The SEC Boss expressed his most honest appreciation  to the Monetary Sector Deepening Africa (FSDA) for funding the work of the RCMMP and to the capital market neighborhood for aligning with the Fee’s imaginative and prescient and committing to help the implementation of the Plan.

The CMC assembly which is holding with the launch of the Masterplan,  is  with key stakeholders within the capital market on November 24, whereas the standard interface with the press, on the result of the CMC assembly, will happen on Friday, November 25. 

The Fee unveiled the ten-year Capital Market Grasp Plan (CMMP) in November 2014 and has continued to implement the initiatives, that are designed to reposition the Nigerian Capital Market as a sexy funding vacation spot and a crucial facilitator of capital formation for the accelerated development and growth of the Nigerian financial system.

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A few of the CMMP initiatives which were applied embody; Direct Money Settlement, regularisation of a number of subscriptions, dematerialisation of share certificates, and the introduction of the e-Dividend Administration System.

“The CMMP initiatives have helped in selling transparency, defending buyers and enhancing market confidence. The targets of the CMMP are additionally in consonance with the Federal Authorities’s financial technique, which targeted on encouraging a personal sector-led financial system to drive inclusive development.

Anticipated contributors on the assembly embody Chief Government Officers (CEOs) of all registered capital market corporations (i.e. Dealer/Sellers, Funding Advisers, Custodians, Fund/Portfolio Managers, Receiving Banks, Issuing Homes, Score Companies, Registrars, Reporting Accountants, Trustees, and Capital Market Consultants, and so on.); Chief Government Officers of Nigerian Change Group (NGX), Nationwide Affiliation of Securities Sellers (NASD); FMDQ Group Plc; Africa Change Holdings (AFEX); Nigeria Commodity Change (NCX); Central Securities Clearing System (CSCS); in addition to representatives of related monetary sector regulatory companies, amongst others.