The Securities and Exchange Commission (SEC), says the capital market community is to commence sensitization and stakeholder engagement on the implementation of the National Savings Strategy (NSS).
To this end, an Implementation Committee would be established to ensure success of this initiative. This was disclosed by the Director General of the Securities and Exchange Commission Mr. Lamido Yuguda at the end of the First Quarter (Q1) Capital Market Committee meeting which held via Zoom recently.
Yuguda explained the need to establish a National Savings Strategy as outlined in the Capital Market Master Plan as one of the key strategies to enhance capital formation by mobilising domestic funds for investment to drive rapid economic growth.
He said, “It envisaged the deliberate provision of risk capital as venture capital and private equity that are naira based and more committed to the long-term prosperity of Nigeria as well as create a buffer to the instability created by foreign investors.
The CAMMIC commissioned a white paper on a National Savings Strategy and recommended to the Minister of Finance, Budget and National Planning the formation of a working group to explore the feasibility of the report findings.”
