Capital Market Focus Is On Wealth Creation – Oteh
The Director General, Securities and Exchange Commission (SEC), Arunma Oteh has said one of the roles of the capital market is to create wealth and allocate resources to the most competitive companies.
She says the stock market helps in addressing some of the income inequalities that Nigeria faces today, helps in creating jobs for the unemployed and facilitates an eco-system, starting from venture capital and private equity that can easily exist through the stock market.
On Channels Television’s business programme, Business Morning, Ms Oteh stated that inline with the theme of the World Economic Forum On Africa, “Forging Inclusive Growth and Creating Jobs”, Nigerians could contribute to wealth creation and inclusive growth through investments in the Nigerian Capital Market.
Ms Oteh noted that financial responsible citizens were very critical to the Transformation Agenda that President Goodluck Jonathan was leading, explaining that “if we know how to spend, save and invest, we can plan for our retirement or for future health challenges” adding that the SEC was doing its best to ensure that the average Nigerian is very familiar with the workings of the capital market.
She further noted that the SEC had come up with a number of Financial Literacy Programmes, like partnering with Nollywood and the creation of mutual funds.
“The SEC has been emphasising the need for Nigerians to look at investing through mutual funds as an alternative to investing directly. It helps in diversifying your risk rather than investing your funds in one company,” she said.
She also urged Nigerians to get involved in the Financial Literacy Programme of the government.