Officers and Men of the Nigerian Army have been enjoined to invest in the capital market in a bid to create wealth and save money for their retirement. This was stated by the Acting Director General of the Securities and Exchange Commission, Ms. Mary Uduk at a one day enlightenment programme for the Nigerian Army Ordinance Corps held in Lagos.
Uduk who was represented by the Head, Lagos Zonal office of the SEC, Mr. Stephen Falomo, told the officers that several investment opportunities abound in the capital Market and urged them to take advantage of them in a bid to creat more wealth.
She informed them that the Commission has adequate rules and regulations in place to ensure that their investment are safe. According to her, “one of our responsibilities is protecting the integrity of the capital market from all forms of abuse including insider dealing and market manipulations.
Uduk said the SEC also undertakes development activities to improve investor education and participation, promote new instruments and encourage innovation. “We also register and regulate securities exchanges, capital trade points, derivative and commodity exchanges and other recognized investment exchange. We register and regulate capital market operators and capital market consultants as well as other functions.
The Acting DG said the Commission is also making efforts at addressing financial literacy and empowerment gaps within the country embodied in various financial inclusion and literacy initiatives in collaboration with other stakeholders.
“This forum, like many others, therefore affords us the opportunity to engage both existing and prospective investors among you, to ensure that the gains of your participation in the capital market will not be lost” he said.
The commission said as the apex regulator of the capital, it was currently implementing various initiatives under its 10-year capital market master plan to protect investors. Uduk gave some of the initiative as recapitalisation, electronic dividend management system, dematerialisation, and direct cash settlement among others.
She said, “The agenda for this outreach is to enlighten us about the capital market and the attendant benefits while also cautioning us against investing in fraudulent schemes that appear mouth-watering but are actually not capital market products.
“On our part as regulator, we shall continue to introduce new ideas and policies towards developing and regulating capital market that is dynamic, fair, transparent and efficient to contribute to the nation’s economic development.”
She added that the forum will also afford the participants the opportunity to widen their knowledge of the capital market. The SEC boss therefore urged them to while working for the peace and security of the country should also work to ensure their financial future.
In his remarks, Major General O.A.Akintade, Corps Commander, Nigerian Army Ordnance Corps Commended SEC for bringing the enlightenment campaign to the Nigerian army. Represented by Brigadier General M.T. Jinadu, Akintade expresses the hope that the officers and men will gain knowledge that will assist them in making wise investments in the capital market.