…National Assembly Presence Testament, Commitment To Advancement, Prosperity Of Nigerian Capital Market–Yuguda
The Chairman, Senate Committee on Capital Market, Senator Osita Izunaso,has pledged to help expedite the process leading to the submission to the President for assent to the repeal of the Investments and Securities Act (ISA) 2007, by the first quarter of 2024.
The initiative, Senator Izunaso has already passed 1st and 2nd Reading at the House of Representatives and 1st Reading at the Senate.
The Senator made this pledge at the 3rd Capital Market Committee (CMC) meeting of the year, held in Lagos, which was attended by critical stakeholders in the industry .
He commended the government’s interest in the capital market, signified by the appointment of key figures from the market to influential positions.
The Senator urged the Commission to enhance public awareness of the capital market’s benefits, expressing optimism that the envisioned $1Tn economy could be realised, with the help of collaborative efforts and productive actions in the capital market.
Also speaking at the event, the Chairman, House Committee on Capital Market and Institutions, Honourable Solomon Bob, who commended the Commission and the entire capital market on the 2023 3rd Quarter CMC meeting, expressed the readiness of his committee to contribute towards facilitating the development of an ecosystem that would ensure efficient access to capital formation through consultation, cooperation, and information exchange.
He acknowledged the existence of external economic forces impacting market expansion and highlighted the National Assembly’s role in protecting investors.
The legislator welcomed enhanced coordination for market innovation and stated his readiness to help strengthen the relationship between the market and the NASS.
The Chairman ,House Committee on Capital Market and Institutions, recognised the opportunities offered by the emerging derivatives market and anticipated valuable insights from this and future CMC meetings for legislative frameworks supporting a thriving capital.
Earlier in his opening remarks, the Chairman of the CMC, and Director General of the Securities & Exchange Commission(SEC), Lamidi Yuguda, acknowledged the presence of the distinguished senators and honourable members of the House of Representatives, adding that their presence was a testament to their unwavering commitment to the advancement and prosperity of the Nigerian capital market.
The Deputy Chairman, Senate Committee on Capital Market, Senator Peter Jiya, the Deputy Chairman of the House Committee on Capital Market and Institutions, Dr. Muktar Zakari and other distinguished guests were also in attendance
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