Nigeria’s Securities and Exchange Commission (SEC), has reaffirmed its commitment to collaborate with relevant stakeholders to strengthen Nigeria’s capital market.

The Acting Director-General of SEC, Ms Mary Uduk made this known when members of the Association of Stockbroking Houses of Nigeria (ASHON) met with the management of SEC at the weekend in Abuja, the nation’s capital.

According to her, a well-functioning capital market was essential for Nigeria’s economic development.

“The country must have a world class capital market that was strong, sustainable, effective, and played a central role in economic. SEC is open to suggestions and actions that will make the capital market vibrant,” Uduk stated.

She, however, added that such collaborative efforts would only be with associations and persons that were fit and proper to operate in the market.

Uduk commended members of the group on their efforts so far in deepening the market, especially for their support toward the financial literacy campaign of SEC.

The Director-General pledged SEC’s willingness to collaborate with the association to lift the market and re-position it among leading capital markets that met international standards and best practices.

“Its good that we work together to take our capital market to the height we want it to attain. We are ready to engage with you to give us clarity on several issues relating to the market. We are also open to discussions that will benefit the market, because the market is the most important in all our engagements,” Uduk explained.

The Chairman of ASHON, Mr Onyewechukwu Ezeagu pledged the commitment of the group to ensure growth of Nigeria’s capital market.

“We have always worked with SEC and will continue to do so and accord you all the co-operation you require to succeed. Whatever needs to be done to make the market work is of concern to the association,’’ Ezeagu said.

The ASHON Chairman also said the group would continue to collaborate with the commission to ensure financial literacy in the country.