Finance minister to inaugurate revised capital market master plan

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The Minister of Finance, Budget and National Planning, Ms. Zainab Ahmed, will launch the Revised Capital Market Master Plan, which is expected to be the roadmap for the capital market in the coming years.

This is also because the Securities and Exchange Commission has scheduled the Third Quarter Capital Markets Committee meeting to be held.

Both events are scheduled for Thursday, November 24, 2022 at the Hotel Lagos Continental.

The 10-year master plan, which was launched in 2014, is being revised to reflect market dynamism and advances in financial technology, among others.

According to the Director General of the SEC, Mr. Lamido Yuguda, the Revised Capital Market Master Plan 2015-2025 (RCMMP), developed by the Securities and Exchange Commission (SEC), Nigeria, in collaboration with stakeholders, captures the challenges of our capital markets in upgrading their role in driving national economic growth and, most importantly, provides a blueprint for seizing these opportunities to better position the capital markets as the engine of our economic growth and developing.

  • market reforms: Yuguda said, “The first five years of the original Capital Market Master Plan (CMMP) implementation focused on market and governance reforms in the aftermath of the 2008 global financial crises and the Nigerian market correction that it continued in 2009, with significant success. During that period, stock certificates were dematerialized, dividend management was automated, corporate governance standards were adopted improved, brokers strengthened through revised, risk-based capital requirements supervision, among several other initiatives implemented under the CMMP.

  • “Today we face new challenges and opportunities. The search for innovation and growth. it requires us to be open to opportunities and risks. Our options are limited if we only seek opportunities within our traditional boundaries. Similarly, we inhibit our ability to grow if we don’t fail to reduce the threats of unregulated risk-taking. Promotion of entrepreneurial and innovative initiative. results, therefore, requires balancing our openness and appetite for risk-taking with the critical need to protect investors. It is important to contextualize our aspirations within the fundamental objectives of market integrity and investor protection while pursuing the increase. The RCCMP has provided a framework and outlined strategic initiatives that will help seize and unlock these opportunities in our capital market.

The SEC chief expressed his sincere thanks to Financial Sector Deepening Africa (FSDA) for funding the work of RCMMP and to the capital markets community for aligning with the commission’s vision and committing to support the implementation of the plan.

The commission unveiled the ten-year CMMP in November 2014 and has continued to implement the initiatives, which are designed to reposition the Nigerian capital market as an attractive investment destination and a key enabler of capital formation for the accelerated growth and development of Nigeria. economy.

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