Abuja, Nigeria—The Securities and Exchange Commission (SEC) has announced its intention to release a framework guiding the capital market in the proposed recapitalization exercise by banks. Dr. Emomotimi Agama, the Acting Director General of the SEC, made this disclosure during a meeting with executives of the Institute of Capital Market Registrars in Abuja over the weekend.
Dr. Agama assured stakeholders that the SEC is actively addressing the issues surrounding the recapitalization exercise and will soon provide a framework to steer the market in the right direction. He emphasized the Commission’s commitment to engaging with various segments of the capital market to ensure that all pending matters are resolved in the market’s best interest.
Mr. Bola Ajomale, the Acting Executive Commissioner of Operations at the SEC, highlighted the importance of embracing technology in the capital market. He urged registrars to leverage technology to enhance efficiency and transparency, emphasizing that technological advancement is crucial for the market’s evolution.
Addressing the registrars, Mr. Seyi Owoturo, President of the Institute of Capital Market Registrars, emphasized the need for vigilance and technological adoption in light of the impending banking recapitalization exercise. He stressed the importance of registrars in maintaining market integrity and ensuring compliance with regulatory requirements.
As the SEC prepares to issue the framework for bank recapitalization, stakeholders in the capital market are urged to embrace technology and collaborate to navigate the challenges and opportunities ahead.
