…By Dorcas Funmi for TDPel Media.
Lamido Yuguda, the Director-General of the Securities and Exchange Commission (SEC), has expressed his preparedness to tackle the challenges leading to companies delisting from the capital market.
In an interview, Yuguda emphasized the need to develop the market by establishing a forum where the commission can engage with issuers and discourage delisting.
Collaboration with Nigeria Employers Consultative Association
To address the reasons behind delisting, the SEC collaborated with the Nigeria Employers Consultative Association (NECA) to establish the Securities Issuers Forum.
This forum serves as a platform for open discussions on the challenges faced by issuers and finding appropriate solutions.
Yuguda highlighted the positive outcome of the collaboration, which has instilled confidence in market participants and attracted interest from major players.
Enhancing Investor Protection through Listing
Yuguda underscored the importance of listing in providing higher investor protection.
The SEC is actively working to address various issues related to delisting by companies.
By facilitating strategic listings such as the initial public offerings (IPOs) of MTN and BUA Foods, as well as introducing new products like derivatives, the SEC aims to diversify the listings and reduce dependence on the financial sector.
Encouraging Participation of Big Players
Yuguda acknowledged that the market’s vitality relies on the participation of prominent players.
The SEC has witnessed an increasing interest from major players, such as MTN, who decided to enter the market in an innovative manner.
They introduced electronic offers, allowing individuals with mobile phones to subscribe to their offerings without intermediaries.
Conclusion:
Lamido Yuguda, the Director-General of the SEC, is committed to tackling the challenges leading to company delisting from the capital market.
Through collaborations, forums, and efforts to diversify listings, the SEC aims to enhance investor protection, attract big players, and ensure the market’s growth and stability.