SEC canvasses tech innovations to improve market efficiency

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SEC used N8bn of N9bn revenue to service staff — SENATE

By Peter Egwuatu

The Securities and Exchange Commission, SEC has identified technology innovations  as a means  to enhance the efficiency and transparency of capital markets and enable financial intermediation.

Disclosing this while speaking at the Nigerian Exchange Limited, NGX, Capital Market Conference in Abuja yesterday, the Director General of the Commission, Mr. Lamido Yuguda, noted  that the capital market of every nation plays a strategic role, not only in allocating scarce resources, but in harnessing the  huge investment opportunities in agriculture, infrastructure, oil and gas, natural resources as well as in other sectors of the economy.

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Yuguda said that the International Organization for Securities Commission (IOSCO) acknowledges that the use of technological innovations by market operators could potentially create significant efficiencies and benefits for firms and investors, including…



Source: Vanguard Newspaper

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