Yuguda pledges to prioritise investors’ protection

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Mr Lamido Yuguda, the incoming Director-General of the Securities and Exchange Commission (SEC) says investors’ interest will  be at the centre of his administration.

A statement by Mrs Efe Ebelo,  Head, Corporate Communication of SEC in Abuja on Wednesday, said that Yuguda disclosed the plan during his screening by the Senate Committee on Capital Market.

Yuguda also warned that any operator who short-charged investors would not go free.

He pledged the commitment of other nominees in ensuring that the capital market in the country realised its potential.

Yuguda said the incoming management would be willing to work with operators and stakeholders to ensure robust regulation of the capital market.

“We want to assure investors that this market is for them and we are ready to do everything to ensure that we increase investor enlightenment through education, robust regulations and fair dealing.

“For those that want to defraud investors, there will be no respite because we are ready to fight market manipulation to the last.

”Anyone that flouts our rules will be made to face the consequences of their actions ,” he said.

Yuguda commended the committee for its efforts toward revamping the capital market, noting that the management would work with the members to achieve more results.

The Chairman, Senate Committee on Capital Market, Sen. Ibikunle Amosun, said the country’s capital market was a critical tool that could rescue the nation’s economy in the face of COVID-19.

Amosun said the capital market had the depth to revamp the nation’s poor state of infrastructure.

He noted that there was no better time than now for the federal and state governments to leverage opportunities provided by the capital market to source infrastructure financing.

The committee chairman commended stakeholders in the market for their efforts, adding that there was room for improvement to get the nation’s economy on the right path.

Recall  that President Muhammadu Buhari had, in a letter to the Senate, requested the confirmation of Yuguda as SEC DG, and three other nominees as commissioners.

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