Politics
SEC Director-General Lamido Yuguda Outlines SEC’s Mission For 2024: Galvanizing Capital Markets For Infrastructure Financing (Details)
The Director-General of the Securities and Exchange Commission, Lamido Yuguda, has outlined the commission’s 2024 focus, emphasizing the goal of leveraging capital markets for infrastructure financing. This announcement was made during the third-quarter post-Capital Market Committee press briefing held in Lagos…CONTINUE READING....KINDLY READ THE FULL STORY HERE▶

Yuguda expressed the Commission’s commitment to redirecting attention toward channeling capital market funds into infrastructure projects. He referred to the recent statement by the president, projecting a $1 trillion economy by 2026 and a $3 trillion economy by the end of the decade. Yuguda believes in the feasibility of these goals, stating, “This country has what it takes to really do it. This is the direction of the government, and this is what the Securities and Exchange Commission is doing to galvanize the market to help finance infrastructure.”
Addressing the recent delisting activities in the Nigeria Capital Markets, Yuguda acknowledged notable exits like PZ Cussons, Union Bank, and GSK. However, he emphasized that despite these exits, the market still boasts high capital stocks. Comparing the market capitalization of exiting companies with that of new entrants, he revealed that the value of exiting companies is less than 2% of those newly listed.
In addition, Yuguda highlighted the Commission’s collaboration with the National Assembly on the Investment and Securities Bill. The bill aims to empower the commission, establish a commodity exchange market, and enhance penalties for operators involved in ponzi schemes.
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