SEC Working On Policy To Encourage Huge Participation In Stock Market
Federal Government has directed the Securities and Exchange Commission (SEC), to marshal out a saving policy and programme that would encourage every Nigerian to actively participate in the country’s capital market.
This measure, according to the government is part of means to unlock the potentials in the market.
Minister of Finance, Budget and National Planning, Zainab Shamsuna Ahmed, disclosed at a meeting with the Management of the Exchange, led by its Chief Executive Officer, Timi Popoola in Abuja.
The capital market provides the platform for everyone to invest in firms operating in the country and it a means to enrich the investors.
Ahmed commended the Nigerian Exchange Limited for her efforts towards deepening the Nigerian capital market and also acknowledged the commitment of the Management in the demutualization of the Exchange.
She advised the management to leverage on technology and innovations which could ease the processes of trading on the exchange to ensure that ordinary citizens participate in the capital market.
Equally, the Permanent Secretary, Aliyu Ahmed, urged Popoola and his team to tap into their experiences and scale up the operations of the exchange for the benefit of investors and the market.
Earlier, Popoola, the Chief Executive Officer of the Exchange, had informed the minister that he had come to introduce the Exchange’s new management to the minister and to also appreciate her support to the Nigerian capital market.
He assured of the Exchange’s support to this administration’s effort in making Nigeria a destination for foreign investment as well as attracting investors.
Popoola also the reduction on Company Income Tax (CIT), from 25 to 20%, among others, arguing that these would ultimately attract more taxes to government.
He assured the Minister of the Exchange’s commitment to support the Ministry’s fiscal policy and willingness to serve on the committee of the Finance Bill 2021.
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