Connect with us

Finance

SEC Plans to Launch Revised Capital Market Master Plan

Published

on

SEC

The Securities and Exchange Commission (SEC) plans to unveil a revised version of the 10-year Capital Market Masterplan that will take into account market dynamism and innovations in FinTech among others.

This was disclosed by Lamido Yuguda, Director-General of the Securities and Exchange Commission, who expressed confidence that the consequences of the many measures implemented will progressively manifest, spurring developments in many parts of the market.

Yuguda stated that the Commission would strengthen stakeholder cooperation, develop synergies, and increase the effectiveness in order to achieve the Capital Market Masterplan’s goals.

YOU CAN FOLLOW US ON FACEBOOK

He stated that SEC would innovate to keep up with the changing times and “continue the enhancement of the existing regulatory framework guiding the operations of the market by keeping pace with the evolving changes in market practices, especially with the advent of Financial Technology and digital assets.”

He expressed the hope that once the restrictions on Covid-19 and its variants are lifted, the Market will experience renewed confidence, resulting in new investments from both domestic and international companies.

As we expect improvements in both economic and capital market activities, we must remain committed to developing the market in line with the 10-year Master Plan. Some of the key initiatives to be pursued in 2022 are as follows: The repeal of the Investment and Securities Act (ISA) 2007 and passing of the Investment and Securities Bill 2021 to align the enabling law with the realities and trends in capital market regulation and practice in Nigeria.

Read Also: CBN Defends Naira with $2.1bn to Halt Further Depreciation

500 MSMEs Beneficiaries of the Nigeria Youth Investment Fund Revealed

Continue Reading
Advertisement

ADVERTISEMENT

ADVERTISEMENT

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Finance

FG Probes Online Banks Over Breach of Customers’ Data Privacy

Published

on

FG Probes Online Banks Over Breach of Customers’ Data Privacy

Author: Kehinde Ajewole, Abuja

The federal government has begun a probe of online banks over their alleged breaches of customers’ data privacy.

The director-general, national information technology development agency, Kashifu Inuwa, who made this disclosure in Abuja on Monday, said the agency was working with the Nigeria police force and other relevant agencies to investigate several lending platforms, popularly called loan shark platforms.

YOU CAN FOLLOW US ON FACEBOOK

He said this while addressing journalists ahead of the national privacy week 2022. amidst outcry of data invasion by Nigerians against lending platforms, NITDA had imposed a fine of n10m on Soko loan for data breach last August.

In November 2021, NITDA partnered with the federal competition and consumer protection commission to address the increasing rates of data privacy abuse by money lending organisations, particularly fintech firms.

Read also:

EU Regulators Fine Amazon $887 Million Over Privacy Violations

Russia Fines Google for Breaching Data Storage Law

Continue Reading

Finance

FG to Make Additional Provisions for Fuel Subsidy Beyond June – Finance Minister

Published

on

FG to Make Additional Provisions for Fuel Subsidy Beyond June – Finance Minister

The federal government has revealed plans to make additional provisions for fuel subsidy in the 2022 budget.

The minister of finance, budget, and national planning, Zainab Ahmed disclosed this on Monday at a meeting with the president of the senate, Ahmad Lawan, at the national assembly complex in Abuja.

In her remarks, the finance minister explained that the government had to reconsider its decision on the planned removal of fuel subsidy after the 2022 budget was passed by the national assembly.

YOU CAN FOLLOW US ON FACEBOOK

She stated that fuel subsidy was provided for in the 2022 budget to run from January till June, but after consultations with stakeholders and in view of the high inflation and economic hardship, additional provisions would be made beyond the initial period.

According to Ahmed, it has become clear that the timing for the removal of fuel subsidy will be problematic as the country still experiences high inflation. she admitted that removing fuel subsidy at this period would ultimately worsen the condition of Nigerians, especially those struggling to make ends meet.

Read Also: FG Will Replace Fuel Subsidy with N5,000 Transport Grant for 40m Nigerians

Continue Reading

Naija News

NLC Backs Bill on Rent Regulation in FCT

Published

on

NLC Backs Bill on Rent Regulation in FCT

Author : Eunice Johnson, Abuja

The Nigeria Labour Congress has endorsed the planned bill on monthly house rent in the Federal Capital Territory introduced by the Senator representing Kogi West District, Smart Adeyemi.

The bill titled, ‘Advanced Rent (Residential Apartments, Office Spaces, etc.) Regulation Bill 2022,’ has gone through first reading at the Senate. It provides for a maximum of three months’ advance rent payment in the first instance and subsequent monthly payment for the rest of any tenancy lease in the FCT.

The NLC President, Ayuba Wabba, in a statement on Thursday, said the bill was in tandem with the rent regime in most parts of the world, including South Africa and Kenya.

Follow us on Facebook

The statement was titled, ‘The Nigeria Labour Congress throws its full weight behind the bill on monthly house rent in the FCT.

Read Also:

Senate Approves Nigerian Airspace Management Agency Bill

Inaugurated Rail Projects Generate N327 Million Monthly – NRC

Senate Goes into Closed Door Session

Continue Reading

Trending