FG to strengthen capital marketplace for wealth creation

The federal authorities has reaffirmed its dedication to strengthening Nigeria’s capital market as a important driver of financial progress and wealth creation for residents.

In a press release made accessible by the fee to our correspondent on Sunday, Minister of State for Finance, Doris Uzoka-Anite, disclosed this throughout a gathering with the board of the Securities and Change Fee in Abuja over the weekend.

She said that the ministry had been mandated by President Bola Tinubu to make sure the capital market performs a pivotal function in reaching the administration’s financial objectives.

“If we’re to realize the renewed hope mandate of a $1tn financial system, it needs to be by means of the capital market,” Uzoka-Anite mentioned. “It needs to be non-public sector-driven, and that non-public sector drive is the capital market. We’re dedicated to strengthening the market to make it extra strong and make sure that investor confidence is restored.”

She emphasised the significance of making a resilient market that might accommodate main affords and supply buyers with viable exit choices, pledging authorities help to assist the SEC realise its full potential in driving the financial system and fostering wealth creation for Nigerians.

The Securities and Change Fee board chairman, Mairiga Katuka, highlighted the significance of collaboration between the SEC and the Ministry of Finance to foster a vibrant and resilient capital market.

“The capital market is essential to reaching the administration’s renewed hope agenda and boosting nationwide financial improvement,” Katuka mentioned.

He additional famous that the SEC was present process reforms aimed toward making the market globally aggressive and enhancing its function in financial diversification and monetary inclusion.

Katuka assured the minister of the board’s dedication to supporting the federal government’s financial agenda, calling for sustained dialogue and collaboration to drive progress and investor confidence available in the market.

The PidomNigeria reported that the Securities and Change Fee has introduced plans to reinforce the regulatory framework for borrowing by governments and firms, emphasising sustainability and effectivity within the monetary system.