Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) have agreed to collaborate for stronger capital market regulation.
Acting Director General of SEC, Mounir Gwarzo and the Deputy Governor, Financial System Stability, CBN, Dr. Okwu Joseph Nnanna reached an agreement when Nnanna visited the management of the SEC in Abuja.
Gwarzo noted that Nnanna has visited at the right time in view of the difficulties facing the economy at the moment.
Gwarzo said “You have come at the right time. We crave one-on-one collaboration with various institutions as we believe it is very important in finding solution to our economic problems as a nation. We need to collaborate on major areas beyond the platform provided by the Financial Services Regulation Coordinating Committee (FSRCC).”
Gwarzo explained that one of the policies of the present management of the commission is to empowere trade groups so as to ensure that the trade groups handle complaints and resolve them accordingly.
While speaking Nnanna said “We are here to familiarise with the new DG. There is much happening in the financial system and that is why I am here for bilateral meeting so that we can agree on a few things to revive the system particularly the capital market.”