Analysts have commended the efforts of the Security and Exchange Commission (SEC) in sanitising the nation’s capital market in 2013.
The head of research, BGL PLC, Mr Femi Ademola and the Director, Membership and Student Affairs, Chattered Institute of Stockbrokers, Vincent Adubo, who were guests on our programme Business Morning, described the performance of the Nigerian Capital Market in 2013 as impressive.
The pointed out that the implementation of the capital market regulations was yielding results, return on equity was close to 50 per cent.
“They have done very well,” Mr Adubo said.
Mr Ademola said that there had been more transparency in the market handling to make sure that investors’ confidence was restored.
They were of the opinion that the recently introduced capital market requirements by SEC would keep market operators in check and equally curb unnecessary spending of funds.
They, however, called for the listing of more companies on the Nigerian Stock Exchange, especially the telecoms and oil and gas sectors.