THE Securities and Exchange Commission (SEC) has reassured both individual and institutional investors interested in the Nigerian economy of the safety of their investments in spite of the political upheavals sweeping through parts of Africa and the Middle East.Speaking at the second edition of the Standard Bank West Africa Investors Conference in Lagos, recently, SEC Director General, Ms Arunma Oteh, reiterated that Nigeria had embarked on broad-based reforms of its financial services sector with the aim of deepening and broadening the capital and money markets in line with global best practices.The Securities and Exchange Commission has embarked on a transformation agenda, such that our capital market is able to play the role that it should play in ensuring that the full potential of our economy is realised. The elements of that agenda relate to trust, building investorconfidence.Building investor confidence means ensuring that sharp practices are not associated with this market, at the level of investors, capital market operators and at our own level as regulators.Third, that the disclosure regime is enhanced; that it is transparent and theres more accountability, and that we abide by international standards, the highest standards in terms of corporate governance, that has the highest standards in terms of the disclosure regime, said Oteh.In his welcome address, Atedo Peterside, Chairman, Stanbic IBTC Bank, said, despite the positive performances of some capital markets, doubts over a double dip recession still pervaded, which had been further heightened among foreign fund managers by the significant political happenings in Tunisia, Egypt, Libya, Cote dIvoire and South Sudan, which can either pump up or dampen the adrenaline of institutional investors.With specific reference to Nigeria, the recent political developments in North Africa cannot have spillover effect in Nigeria.What we are witnessing in North Africa and some countries in the Middle-East is essentially a confrontation between angry populations and sit-tight autocratic rulers.But then, our leaders cannot and do not sit-tight, nor does the system allow them to be truly autocratic. In terms of democratic principles, I honestly believe that Ghana and Nigeria (under President Goodluck Jonathan, are ahead of the Maghreb countries on the learning curve.With the spectres of recoveries experienced in numerous markets of the world in 2010, investment managers have been cautiously enhancing their exposures to the different markets, with the frontier markets getting increasing attention. The good news however is that our economy is currently one of the fastest growing in the world and we are no longer threatened by a collapse of our banking sector.
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