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Capital market committee to discuss industry progress, challenges

The Securities and Exchange Commission (SEC) will host a virtual meeting of the Capital Market Committee (CMC) scheduled for Thursday, April 18th, 2024.

This first-quarter meeting will serve as a crucial platform for industry stakeholders to engage in discussions, brainstorm solutions, and make informed decisions regarding the development of the Nigerian capital market.

The SEC in a statement noted that the meeting will address critical issues impacting the market. A key element will be presentations from various technical committees driving the implementation of the Capital Market Master Plan.

These committees, including the Commodities Ecosystem Implementation Committee, the E-Dividend and Direct Cash Settlement Committee, and the Financial Literacy and Non-Interest Capital Market Committee, will provide updates on their significant achievements.

The CMC functions as an industry-wide forum, bringing together a diverse group of stakeholders. This includes representatives from the SEC, capital market operators, trade groups, and other relevant parties.

The committee fosters insightful discussions on factors influencing the growth and orderly functioning of the market. It also addresses pressing concerns and collaboratively shapes the future of the Nigerian capital market.

Established as a platform for open communication, the CMC facilitates the exchange of ideas among stakeholders. It provides an avenue for feedback to the SEC, enabling continuous improvement of market operations, regulatory frameworks, and solutions to existing challenges.

The upcoming virtual meeting will see the participation of key figures within the Nigerian capital market ecosystem. This includes Chief Executive Officers (CEOs) of various registered capital market firms, such as Broker/Dealers, Investment Advisers, Custodians, Fund/Portfolio Managers, and more.

Additionally, CEOs from the Nigerian Exchange Group (NGX), the National Association of Securities Dealers (NASD), FMDQ Group Plc, Africa Exchange Holdings (AFEX), Nigeria Commodity Exchange (NCX), and the Central Securities Clearing System (CSCS) are all expected to attend. Representatives from relevant financial sector regulatory agencies will also be present.

This broad spectrum of participants ensures a comprehensive conversation encompassing various perspectives across the capital market landscape. The outcomes of the CMC meeting are highly anticipated as they will shape future initiatives and strategies for the continued development of a strong and vibrant Nigerian capital market.