In a bid to further deepen the commodities trading ecosystem. the Nigerian Securities and Exchange Commission ( SEC) said it will be partnering with the Nigerian Agricultural Insurance Corporation, ( NAIC).
This is contained in a statement issued on Sunday, the Director-General, SEC, Mr Lamido Yuguda, stated this during a meeting with the management of NAIC in Abuja.
He said the commission was committed to developing the commodities ecosystem as a way forward in Nigeria’s quest for sustainable foreign exchange earnings and economic development.
“In the past few months, this has been exacerbated by low oil production and oil theft in the country. This has often resulted in foreign exchange shortages and balance-of-payment problems.
He said the Commission as part of its implementation of the 10-year Capital Market Master Plan, constituted a technical committee on commodities trading ecosystem whose mandate was to identify challenges of the framework and develop a roadmap for a vibrant ecosystem.
