The Securities and Exchange Commission (SEC) has restated the vital role the capital market plays in the development of any country through infrastructure funding. Director-General of the SEC, Lamido Yuguda, stated this when a team from the Nigerian Economic Summit Group (NESG) visited the commission in Abuja, at the weekend.
The SEC DG said that the capital market can do more in the areas of provision of long-term funds to develop infrastructure for the country and support developmental projects.
He said: “Our collective economic power is bigger than the government and, in many countries, you find out that the capital market is funding the government. “When you save, the fund is used to create economic value that enhances your standard of living and this is a win-win.
You get financial returns and also get utility from the investments and this is achievable.”Yuguda welcomed the collaboration with the NESG, stating that both organisations could do more to boost the economy.
“On the capital market, it is a welcome development that we are talking with the NESG for there is something that needs to happen in this country.
