Acting Director General of the Securities and Exchange Commission (SEC), Ms Mary Uduk, has advised investors to look into the capital market as an avenue to create wealth.
She said in Abuja on Tuesday that the space has the potential to minimise the drastic effects of the coronavirus pandemic ravaging the world and businesses at the moment.
“We must continue to make the best we can of the situation. As a regulator, we have put measures in place to ensure our market does not shut down, trade is presently going on at the various exchanges that make up our market.
“The Nigerian Stock Exchange is continuing with trading, the FMDQ and all the exchanges are actually continuing and everything is going well,” she said.
According to her, SEC ensured that the capital market remained active despite the lockdown because it wanted residents to continue to make money to sustain them in this period.
However, she noted that the pandemic, which led to a lockdown of three parts of the country for five weeks, has had a tremendous negative impact on Nigeria’s economy and lives of citizens.
But she urged Nigerians to remain resolute and explore opportunities available in the capital market, noting that, “We are leveraging technology to continue our activities. Initially, people were afraid that technology would have bad effects like loss of jobs, but right now it has become a saving grace.”
“So, most of us have put our Business Continuity Plans (BCP) in process. Staff are working, we are interacting with market operators who are also working, and our market is open.
She said in Abuja on Tuesday that the space has the potential to minimise the drastic effects of the coronavirus pandemic ravaging the world and businesses at the moment.
“We must continue to make the best we can of the situation. As a regulator, we have put measures in place to ensure our market does not shut down, trade is presently going on at the various exchanges that make up our market.
“The Nigerian Stock Exchange is continuing with trading, the FMDQ and all the exchanges are actually continuing and everything is going well,” she said.
According to her, SEC ensured that the capital market remained active despite the lockdown because it wanted residents to continue to make money to sustain them in this period.
However, she noted that the pandemic, which led to a lockdown of three parts of the country for five weeks, has had a tremendous negative impact on Nigeria’s economy and lives of citizens.
But she urged Nigerians to remain resolute and explore opportunities available in the capital market, noting that, “We are leveraging technology to continue our activities. Initially, people were afraid that technology would have bad effects like loss of jobs, but right now it has become a saving grace.”
“So, most of us have put our Business Continuity Plans (BCP) in process. Staff are working, we are interacting with market operators who are also working, and our market is open.