Derivatives’ll enhance capital market liquidity ― SEC
The acting Director General, Securities
and Exchange Commission, Ms Mary Uduk, has identified derivatives as one
of the investable products that will enhance the liquidity of the
Nigerian capital market.
Uduk, while speaking at the final
reporting workshop of the Knowledge Sharing Programme in Lagos on
Wednesday, said the programme was centred on capacity building on
operation and development of financial derivatives markets in Nigeria.
She said it aimed at tapping from Korea’s expertise and excellence towards developing the derivatives market in Nigeria.
Uduk said, “The Nigerian capital market
will not remain the same at the conclusion of this workshop as it has
derived tangible benefits from this partnership.
“There is no doubt that the KSP has
presented a good opportunity for addressing some of the market’s
challenges in setting up a strong and functioning derivatives market,
especially in terms of having the required market infrastructure,
regulatory framework and surveillance system for the derivatives market
in Nigeria, which are the target areas of research.
“I am optimistic about our chances of
creating a derivative marketplace that will be useful for our economy
and the sub-Saharan region.”
The Korean Ambassador to Nigeria, Mr
Intae Lee, expressed delight at the efforts of SEC and the Nigerian
Stock Exchange in driving the derivatives financial products market in
Lee, who was represented by the Consul
General of the Korean Embassy, Mr Kim Intaek, said he was optimistic
that Nigeria would soon be a financial hub for derivatives products in
“Korea will always strive to be
Nigeria’s friend in times of need. We will continue our efforts to
straighten the friendship and will be available to support Nigeria in
this area and we hope that this venture will turn out to be very
Source: Punch June 20, 2019