The Securities and Exchange Commission has disclosed that the process of raising funds from the capital market for the purpose of banking system recapitalisation will commence this quarter.
The SEC boss said the Commission is committed to avoiding past pitfalls and will “very shortly issue appropriate guidelines to facilitate an efficient capital raising process.” These guidelines, he said, will prioritise speed, fairness, and good market conduct.Yuguda stated that the SEC is fostering close collaboration with the Central Bank of Nigeria and other relevant agencies to ensure a seamless recapitalisation process.
According to him, “recent successful examples in the market demonstrate the viability of this approach. A digital format would promote inclusivity, particularly for younger demographics accustomed to electronic transactions. While the last details are being finalized, the SEC’s intention to prioritize digital access is clear”.
He equally disclosed that the Lagos Commodities and Futures Exchange’s upcoming listings of Gold, Lithium, and Oil and Gas futures contracts, will expand opportunities for traders and investors in the commodities space.
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