SEC, FSD Africa Begins 10-Year Master Plan review To Deepen Capital Market

The Securities and Exchange Commission (SEC Nigeria) and Financial Sector Deepening (FSD) Africa have commenced a joint review of Nigeria’s 10-year Capital Markets Master Plan (CMMP) to improve the liquidity and depth of Nigeria’s capital markets.

The review will develop a revised 10-year CMMP that will strengthen Nigeria’s capital market and its capacity for capital mobilization.

The process will involve careful assessment of progress made since the plan’s implementation to date through the introduction of more stringent tools to measure the plan’s progress against objectives.

The review of the CMMP which was launched in 2015 comes in response to changes in the economic and market circumstances which needs to be updated toatch the current environment necessitated by lower oil prices and economic downturn occasioned by Covid-19.

The programme is centred on the development of capital markets master plans, conducting institutional capacity assessments, and creating capacity for sustainable finance such as green bonds, helping markets to adapt to their operating climate.

The review comes as a result of multi-country programme of strengthen to strengthen Africa’s capital market by FSD Africa.

Speaking, the Director Capital Markets at FSD Africa, Evans Osano said: “This review will give market stakeholders in Nigeria a unique opportunity to not only take stock of the plan’s results so far, but also to grow and respond to previously unforeseen economic developments. As FSD Africa works to support and regulate financial markets in Sub-Saharan Africa, we are excited to be partnering with SEC Nigeria to enable them to strengthen the country’s capital markets during a time of immense upheaval.”

Meanwhile, the Director General of the Securities and Exchange Commission Nigeria, Lamido Yuguda said:
“The implementation of the Capital Market Master Plan will deepen our market and improve the capital market’s contribution to our economic growth and national development. To this end, the review of the Capital Market Master Plan better positions the SEC to deliver on these objectives in these very challenging times. The FSD Africa and SEC Nigeria’s laudable partnership underscores our mutual goals to build financial markets that are robust, efficient and above all inclusive”

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