President Muhammadu Buhari and the SEC board Chairman,
Olufemi Dominic Lijadu
The Securities and Exchange Commission (SEC) on Monday, July
24, 2019, inaugurated a newly re-constituted Board with Mr. Olufemi Dominic
Lijadu emerging as the new Board Chairman.
The inauguration was performed in Abuja, by Alhaji Mahmoud
Isa-Dutse, the Permanent Secretary of the Federal Ministry of Finance.
The inauguration of the new SEC board after market operators
and other relevant stakeholders had called for a reconstitution of the board to
help strengthen the commission’s operations.
SEC gets Lajidu as Chairman
L-R, Member, Governing Board of the Securities and Exchange
Commission, Mr Lamido Yuguda, Chairman, Mr Olufemi Lijadu, Permanent Secretary
Ministry of Finance Alh Mahmood Isa-Dutse and Acting Director General,
Securities and Exchange Commission Ms Mary Uduk
Isa-Dutse said in his opening remark:
“This event signals another milestone in our efforts to
emphasize the importance of the capital market in economic growth and
development through the mobilization of long-term savings for investment as
well as efficient pricing of financial instruments”.
Isa-Dutse further stated that the board is crucial to the
existence and operation of the SEC to adequately and efficiently perform its
regulatory function of the capital
market.
“The inauguration of the Board of the SEC is critical, as
the existence and operation of a board are fundamental for an agency like the
SEC to adequately and efficiently perform its regulatory and market development
functions”.
He noted that the inauguration of the new SEC Board is
timely as it is coming at the period when various players in the market are
exhibiting weak corporate governance practices that could dampen investor’s
confidence.
Also at the inauguration, SEC’s Acting Director-General, Ms.
Mary Uduk, said the board was long overdue.
“The Capital Market will no longer be the same again because
we have gotten the Board we have been waiting for for a longtime now. From the
CV of the Board Members, the market will definitely move forward considering
their qualifications and experience.”
The new Chairman of the SEC, Olufemi Lijadu, in his remark
noted that the Board will work unitedly with relevant stakeholders to ensure
accountability and transparency which is paramount to the building of
investors’ confidence and trust of the public, while stressing that the
Commission will always abide by the rule of law in enforcing rules in the
capital market.
Members of the new SEC board includes:
Mr. Olufemi Dominic Lijadu (Chairman)
Mr. Okokon Ekanem Udo (Representative of the Federal
Ministry of Finance),
Mrs. Angela Adewumi Sere-Ejembi (Representative of the
Central Bank of Nigeria)
Mrs. Faruk Ladi Rekiya (part time Commissioner),
Mr. Lamido Abubakar Yuguda (part time Commissioner).
