SEC Speaks On Market Performance Ahead 2019 Elections
File: SEC boss Mary Uduk.

Investors in the capital market have nothing to fear as the 2019 elections draw closer, the Acting Director General of the Securities and Exchange Commission (SEC) Mary Uduk has assured.

Uduk said this on the sidelines of the World Bank/IMF Annual Meetings in Bali, Indonesia.

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She noted that though some investors might want to hold back their money as the election draws closer, there is nothing to fear.

According to her, the slump in the trend of the market is due to the outflow of foreign investment.

“We understand the importance of foreign investors for market efficiency, liquidity, and transparency,” Uduk noted.

“However it is also important for us to develop local investors by building their confidence and encouraging their participation.

“We have made a lot of progress in that direction like risk based supervision, zero tolerance to infractions in the market, complaint Management Framework among others.

She said “If you don’t tolerate infractions, investors will know that somebody is watching their back. We have other initiatives like e-dividend, Direct Cash Settlement which are all geared towards encouraging investors in the Nigerian capital market.”