SEC urges army to Protect investments

The Securities and Exchange Commission has urged officers and men of the Nigerian Army, who have invested in the capital market to explore all available channels to protect their investments.

The acting Director General, SEC, Ms. Mary Uduk, gave the advice during a visit to the 9 Brigade Nigerian Army in Ikeja, Lagos, on Thursday.

Uduk, who was represented by the Head, Lagos Zonal Office, SEC, Mr Stephen Falomo, said the commission had various mechanisms in place to protect investors.

According to him, the mechanisms include e-dividend, direct cash settlement, regularisation of multiple subscription and transmission of shares.

Uduk said the commission also rolled out a complaints management framework, which, according to her, enables investors to know where to complain to and how long it takes for such complaints to be resolved.

She said, “For the investors that are averse to risk, they should get their financial advisers to advise them properly on where to invest.

“We also advise investors to take ownership of their investments. They have to be able to monitor their investments, attend annual general meetings as well as read the annual reports sent out to them.”

According to Uduk, the SEC is committed to protecting investors and will keep working on its rules and the possibility of amending them when the need arises.

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