The Securities and Exchange Commission (SEC) Nigeria has urged members of the Senate Committee on Capital Market to support it on the passage of Investment and Securities Bill 2023 for enactment into law.
The commission hinged its appeal to the lawmakers on the overwhelming support stakeholders in the Nigerian capital market had been giving the draft legislation based on their collective desire to work together for improved performance of the market and contributions to the nation’s economy.
The Director-General of the commission, Dr. Emomotimi Agama, in his presentation during the public hearing chaired by the committee’s Chairman, Sen. Osita Izunaso, on the Bill maintained that globally capital markets had become more indispensable to the functioning of a modern economy, and that no economy can grow without them.
According to him Nigeria needed a world-class capital market to facilitate the on-going economic diversification, hence the imperative of the passage of the ISB 2023 by the National Assembly.
Describing the passage and enactment of the Bill as a desirable step towards attracting more investments to the economy, the Director-General assured the members of the committee of the readiness of the commission to continue to fully support initiatives geared towards strengthening the capacity of the Legislature to actualize its statutory mandate.
Agama commended the President of the 10th Senate and the Chairman and members of the Senate Committee on the Capital Market for organizing the public hearing and pledged the SEC’s collaboration with the National Assembly on passage of the Bill.
