Securities and Exchange Commission (SEC) has applauded the Board and Management of NASD Plc for the effort put in place to enhance its competitiveness and overall development of the Nigerian capital market.
The Chairman of NASD, Mr. Kayode Falowo, led a courtesy visit to the new Director General of the Commission, Dr Emomotimi Agama, and his team in Abuja, who commended NASD for the initiatives aimed at deepening the digitalization of its operations.
He assured the Exchange of the Commission’s preparedness to support efforts in developing the Nigerian capital market. He advised NASD to focus on the specific market areas where it wants to operate.
He said, “The Commission is committed to diligently promoting innovation in the Nigerian Capital Market within the parameters of existing and potential regulation to facilitate effective development and transformation of the Nigerian capital market. I urge the NASD team to be intelligent, clear, and specific about the areas of the Capital Market they seek to participate in.
“Rest assured that the Commission will be true to its mission of supporting innovation that will contribute to significantly developing the capital market and the Nigerian economy. Our drive is propelled by the pronouncement of the Bola Tinubu administration to attain an economy of a GDP size of US$ 1 trillion within the next decade.”
Mr. Eguarekhide Longe had initiated several innovative efforts to strengthen the OTC Exchange operations, including establishing a structured process to support growth companies, especially SMEs, on the NASD Enterprise Portal – NASDeP.
This will aid the increase in the Monetary Policy Rate (MPR) to 26.25%, making traditional funding sources more expensive and hardly appropriate for the operations of such businesses.
