SEC Says Blueprint, Fintech Roadmap, Commodity Trading High on Agenda at CMC Meeting

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The Securities and Exchange Commission (SEC) of Nigeria is expected to hold the second meeting of the Capital Markets Committee (CMC) in 2022. The meeting is expected to be held virtually with key stakeholders from the Capital Markets Meeting on August 18.

During the meeting, matters relating to the implementation of the 10-year capital market master plan, the implementation of the Fintech roadmap, the roadmap of the commodity trading ecosystem as well as d Other salient issues relating to the capital market and the economy will be discussed. The usual interface with the press on the results of the CMC meeting will take place on Friday August 19th.

The CMC was primarily created to serve as a medium for the exchange of ideas among market participants as well as a means to provide feedback to the SEC on how to continually address challenges, improve market operations and strengthen the regulatory framework. It is an industry-wide committee made up of members of the SEC, representatives of capital market operators and trade groups, and other stakeholders.

The Commission unveiled the Ten-Year Capital Market Master Plan (CMMP) in November 2014 and continued to implement the initiatives, which aim to reposition the Nigerian capital market as an attractive investment destination and key facilitator of capital formation for acceleration. the growth and development of the Nigerian economy.

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Some of the CMMP initiatives that have been implemented include; Direct Cash Settlement, regularization of multiple subscriptions, dematerialization of share certificates and implementation of the e-Dividend Management System. CMMP initiatives have helped promote transparency, protect investors and build market confidence. The objectives of the CMMP are also consistent with the federal government’s economic strategy, which focuses on encouraging a private sector-led economy to drive inclusive growth.

Only recently has the market embarked on a master plan review to conform to the stark realities of the day. The revised master plan has since been presented to the Minister of Finance, Budget and National Planning in Abuja.

Expected attendees of the CMC meeting include Chief Executive Officers (CEOs) of all registered capital market companies (i.e., and capital market consultants, etc.); Chief Executive Officers of: Nigerian Exchange Group (NGX), National Association of Securities Dealers (NASD); FMDQ Group Plc; Africa Exchange Holdings (AFEX); Nigeria Commodity Exchange (NCX); Central Securities Clearing System (CSCS); as well as representatives of relevant financial sector regulators, among others.

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