The Securities and Exchange Commission (SEC) has called for a collaborative effort of Capital Market Operators (CMOs) and other stakeholders in the market community to drive capital market inclusion in the country.
Dr Lamido Yuguda, the Director-General of the commission, made this known at a Financial Inclusion Webinar organised by SEC in Abuja today with theme: From Financial Inclusion to Capital Market Inclusion.
Yuguda, represented by Temidayo Obisan, the Executive Commissioner, Operations of SEC said the webinar would facilitate the cross-fertilisation of ideas among relevant stakeholders to foster access to capital market inclusion.
He said that the Central Securities Clearing System (CSCS) indicated that there were about 13.4 million accounts in the system, out of which only about 564,000 accounts had traded in the last seven years.
Bolaji Balogun, the Chief Executive Officer, Chapel Hill Denham said that about 2.5 per cent of citizens of the country were investing in the capital market.
Balogun, also the Chief Investment Officer of the Nigeria Infrastructure Debt Fund, said that sound financial literacy would help to build a better understanding of risks and improve participation.
Mrs Abike Dabiru-Erewa, the Chairman of Nigerians in Diaspora Commission (NIDCOM) said the commission was working with about 17 million Nigerians in the Diaspora.
She said that the commission was committed to working with SEC to get the Diaspora population to facilitate domestic investment in the market.
