SEC Launches Development Fund for Capital Market

stock market
  • SEC Launches Development Fund for Capital Market

The Securities and Exchange Commission on Monday launched the Nigerian Capital Market Development Fund to provide funding for the developmental initiatives of the capital market.

The move, according to the former Chairman of the commission, Dr. Suleyman Ndanusa, is imperative as it will spur the growth of the capital market and the Nigerian economy.

The Board of the fund, chaired by the Director-General of SEC, Mr. Mounir Gwarzo, was also inaugurated at the event.

The establishment of the fund was part of the commission’s strategic efforts in deepening its statutory mandate of developing and building a robust mechanism to facilitate the growth of the capital market.

The NCMDF is expected to initiate and carry out plans and programmes aimed at the development of the capital market, generate and provide funds for financing of market development programmes, facilitate the introduction of new products aimed at deepening the market, and also undertake and sponsor research and scholarly projects aimed at advancing knowledge and understanding of the capital market.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

Be the first to comment on "SEC Launches Development Fund for Capital Market"

Leave a comment

Your email address will not be published.


*