The Federal Government of Nigeria has inaugurated the board of the Securities and Exchange Commission four years after it was dissolved.
Olufemi Lijadu, who hails from Ogun state, a leading commercial lawyer with over thirty years’ experience is the new board chairman .
the board members include non-executive commissioners, Mr Lamido Yuguda and Mrs Rekiya Ladi; the representative of the Ministry of Finance, Mr Okokon Ekanem; and the representative of the Central Bank of Nigeria, Mrs Angela Adewumi.
Others are the acting Executive Commissioner, Corporate Services, Mr Henry Rowlands; acting Executive Commissioner, Operations, Mr Isyaku Tilde; and acting Executive Commissioner, Legal and Enforcement, Mr Reginald Karawusa.
The Chairman, SEC board, Mr Olufemi Lijadu, emphasised that the capital market was important in the socio-economic development of any nation as it played a critical role in attracting investments.
He said, “As we all join hands together to build our country, we need investments and the capital market plays a critical role in that respect. We need to see how we can move forward to have a more orderly market, a market that is fair and transparent and can attract investments to build Nigeria.
The SEC board was dissolved on July 16, 2015, and the apex capital market regulator had been without a board until this week.
The acting Director-General, SEC, Ms Mary Uduk, expressed delight at the inauguration of the board, which she said would assist in moving the capital market forward.
She welcomed the new members and expressed optimism that they would bring their wealth of experience to bear in the running of the commission and the market.