SEC to begin sensitisation of states on capital market opportunities

The Securities and Exchange Commission (SEC) says it will begin sensitisation in states to help governments understand the opportunities in the capital market.

A circular by SEC in Abuja on Sunday, said that its Director-General, Dr Emomotimi Agama disclosed the plan.

Agama said the sensitisation would enhance various state governments  understanding of financial markets, investment strategies, and regulatory frameworks.

He said the move was part of the commission’s strategies to harness the potential inherent within the various states for wealth creation.

”Imagine setting up factories that will produce goods that can be exported and earning foreign exchange.

”A lot of Nigerians would be employed and that would lead to wealth creation and economic development.

“That is why the commission will continue to emphasise education, because if they do not know, there is little they can do until they know.

”Sometimes it is not because they don’t want to do it, it is just because they don’t know and it is our responsibility to give this vital knowledge for wealth creation.

”There are some states in the country that are so rich but nothing is happening there. All of their wealth is in the ground,” he said.

Agama said the commission would create guides, reports, and policy briefs that would explain capital market opportunities for state governments.

“We will translate complex financial concepts into simple, actionable insights and we will use case studies from Nigerian states that have successfully raised capital through bonds or attracted investments in the capital market.

“We believe that if we go out and speak to these people, get them into understanding the benefits and how it is important, things will change.

”We will get them to manage their own assets meaningfully well, and harness them for greater economic growth for the states.

”It is our responsibility to change the narratives and we will keep at it,” the director-general said.