Acting Director General of the SEC, Ms. Mary Uduk
PRESS RELEASE —The Securities and Exchange Commission, SEC has urged officers and men of the Nigerian army who have already invested in the capital market to explore all available channels to protect their investments.
This was stated by Acting Director General of the SEC, Ms. Mary Uduk during a visit to the 9 Brigade Nigerian Army in Ikeja, Lagos, Thursday.
Uduk who was represented by Mr. Stephen Falomo, Head Lagos Zonal office of the SEC, said the Commission has various mechanisms in place to protect investors saying that they include e-dividend, Direct Cash Settlement, Regularisation of Multiple Subscription, Transmission of shares among others.
She said , “ these are all put in place to boost investors’ confidence. Investors are also protected through the National Investors Protection Fund (NIPF) Risk Based supervision that enables the SEC to supervise the operators to ensure that they do not do what they are not supposed to do.
Uduk said the Commission also rolled out a Complaints Management Framework which enables investors to know where to complain to and how long it takes for such complaints to be resolved.
“For those of 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.
We also advise retail investors to invest in Collective Investment Schemes and Mutual Funds because those are managed independently by professionals and they are diversified thereby reducing risks.
Uduk added that the SEC is committed to protecting investors and will keep working on its rules and the possibility of amending them when the need arises, we want more transparency in the market so that investors will feel comfortable and the market can be better
“ Several opportunities are available in the capital market. This is against previous enlightenment we did with the ordinance corps recently which was very successful.
“We want to let you know the opportunities that your officers and men can get in the capital market, and for those already investing we want to tell them how they can protect their investments”. She added.
In his remarks, Commander 9 Brigade Nigerian Army Brigadier General Musa Etsu-Ndagi said the Brigade is willing to collaborate with the SEC in a bid to enlighten more officers and men on the investment opportunities available in the capital market.
He said the Chief of Army Staff supports such steps and that is why before now he has gone ahead to encourage some investment opportunities which officers and men are already partaking in.
“We are ready to key into the opportunities available in the capital market because we believe it will assist us invest wisely so that we can get the benefits of our investments while working and even when we retire” he stated.
