Senate Committee on Capital Market Visits FMDQ, NSE

The Executive Members of the Ninth (9th) Nigerian Senate Committee on Capital Market paid a courtesy visit to the two exchange houses in Lagos on Thursday, March 19, 2020.

The visit was led by the Committee Chairman, Senator Ibikunle Amosun and accompanied by Ag. Director-General, Securities and Exchange Commission (SEC) Mary Uduk, and other SEC representatives

Happening at an auspicious time, the visit provided a conducive avenue for the Senate Committee and the two Exchange houses; FMDQ Holdings PLC and Nigerian Stock Exchange, to collaboratively discuss further areas of mutual interest as well as deploy initiatives towards building a resilient capital market in Nigeria.

Welcoming the Senators to the FMDQ Exchange Place, Chief Executive Officer of FMDQ Group, Bola Onadele Koko, expressed his delight and applauded the Senate Committee for its efforts at bridging the gap between the legislators and the market; stressing the importance of stakeholder engagement such as this to the achievement of the desired economic progress in Nigeria.

Koko also recognised the commitment of the Committee to foster a collaborative capital market in support of the realisation of the 10-Year Nigerian Capital Markets Master Plan and further, Nigeria’s Economic Recovery and Growth Plan.

Also commenting on the engagement between the Senate Committee and FMDQ Group, the Senate Committee Chair, Senator Ibikunle Amosun, commended FMDQ on the “laudable initiatives being implemented to deepen the capital market”.

He went on to offer the unequivocal support of the Committee to FMDQ Group to propel growth and improve investor confidence in the Nigerian financial market.

Presenting initiatives to unlock Nigeria’s potential through the capital markets, Adaze Uzor-Kalu, Head of External Relations at FMDQ Group, highlighted FMDQ’s role in championing the realisation of the Nigeria that we desire.

She noted that, through the Group’s strategic initiatives focused on the growth of various sectors of the economy including Housing, Transport, Power, etc. that the Nigerian capital market is able to effectively support national development whilst boosting the economic impact of Small-and Medium- Scale Enterprises towards promoting prosperity for all.

Presenting the FMDQ tombstone following the signing of the e-Visitor’s Register by the Senate Committee Chairman, Ms. Kaodi Ugoji, the Group Chief Operating Officer at FMDQ Group, thanked the Executive Delegation for its recognition of FMDQ’s achievements in the Nigerian financial market, and reiterated the Group’s unwavering commitment to work with the Legislators and other capital market stakeholders to make the Nigerian financial market credible and globally competitive.

At the NSE, Senator Amosun said, “We have met a very professionally run Exchange during this visit and we encourage you to keep up the good work. The Nigerian Stock Exchange has been a critical player in the development of the Nigerian economy. Your efforts have culminated in moving Nigeria out of a monolithic phase and we thank you for all the good work. On behalf of the Senate Committee, I assure you that we will continue to create that enabling environment that will support you in growing our market and providing Nigerians innovative opportunities to create wealth.”

On his part, the Chief Executive Officer, NSE, Oscar N. Onyema OON, expressed a positive outlook on the Nigerian economy and the NSE’s commitment to national development.

The delegation was later honoured with a closing gong ceremony to mark the end of trading activities at the NSE for Thursday.

The Senate Committee on Capital Market is the legislative arm of the government responsible for providing supervision over the Nigerian capital market and proffering strategic direction, where required, for the associated regulators, operators and financial market infrastructures.

Source: Voice of Nigeria