SEC Vows To Intensify Crackdown On Ponzi Schemes This Year
…. Develop Commodities Market
The Securities and Exchange Commission (SEC) has emphasised that protecting investors remains a cornerstone of its mission assuring that the Commission will intensify efforts to stamp out Ponzi and pyramid schemes while paving the way for legitimate investment opportunities to thrive in 2025.
The Director-General of SEC, Dr. Emomotimi Agama, who stated this in a New Year message to the capital market community at the weekend, expressed excitement about the road ahead and opportunities it holds for the capital market.
Agama noted that this year, the Commission will focus on key initiatives that aim to deepen market integrity, enhance investor confidence, and drive economic growth.
According to him, “The SEC is positioned with a dual mandate in regulating and developing the capital market in Nigeria. Naturally, our top priority in 2025 will cut across the dual mandate. For us, mainstreaming the Nigerian Capital Market into the economy is very vital”.
He added: “Enforcement is the backbone of effective regulation. We are revamping our investigative processes to enhance efficiency and hold bad actors accountable more decisively.
“Insider trading undermines activities and dampens market fairness. By revising our regulatory framework, we aim to strengthen detection, prevention, and accountability mechanisms.
“Transparency is at the heart of investor confidence and capital markets. We will introduce measures to ensure greater visibility and trust in securities transactions.
The DG disclosed that to resolve market disputes efficiently and fairly, the Commission is enhancing the operations of the Investments and Securities Tribunal (IST), making it more effective in delivering timely resolutions and improving efficiency.
Agama stated that a critical area of focus for the Commission in 2025 is strengthening the legal framework of the commodities market to enable it attain its full potential of aiding economic development.
“The commodities market is indeed a major area of interest for us at the SEC. Nigeria is purely an agrarian nation and as such, taking that comparative advantage to the next level, is something that the SEC is proud to be a part of.
“It is a vital part of the Nigeria economy. This year, we will focus on reinforcing the legal and regulatory structures that support growth so we can create a solid foundation for the vibrant commodities ecosystem. Be it a soft commodity or a hard commodity.
“More so, when we have a plethora of commodities all over Nigeria. The SEC as a partner in development will make sure that we will make the difference,” he stated.
The SEC DG said these initiatives represent the Commission’s vision for a stronger and more inclusive capital market in 2025 as the SEC is poised to build wealth, creating confidence and making a difference like never before.
“As we embark on this journey, I invite all stakeholders to work with us in achieving these goals. Together, we can unlock the potentials of the Nigerian capital market and make this a defining year for our economy.
“What we intend to do in all of the efforts that we want to put forward to the Capital Market Community is to steer the Capital Market towards a direction that ensures that development gets to the doorstep of every Nigerian,” he added.
SEC Vows To Intensify Crackdown On Ponzi Schemes This Year is first published on The Whistler Newspaper
