Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC) has strengthened its enforcement mechanism to decisively deal with entities engaging in illegal fund management activities in the Nigerian capital market.
Director General of SEC, Emomotimi Agama, stated this weekend in Abuja as the Commission prepares to hold the World Investor Week 2024 from October 7-14 with the theme “Technology and digital Finance, Crypto Assets and sustainable Finance.”
According to him, the Commission’s enforcement mechanisms will be fully deployed to fish out anyone that is perpetrating illegal activities within the investment climate in Nigeria.
He said: “Section 13(a) of the Investments and Securities Act 2007, states that the SEC has the power to regulate Investments and Securities business in Nigeria. So within the law, we have the powers to do so.
“What we are doing is strengthening our enforcement mechanism in collaboration with the Nigerian Police Force and the Federal Ministry of Justice. This serves as a notice to anyone not playing by the books to desist or face the law”.
