Ag. Director General of the Securities and Exchange Commission (SEC) Mounir Gwarzo has assured Nigerians that the Commission will continue to ensure that the market remains vibrant in order to attract investors both locally and internationally.
Gwarzo gave the assurance when he received members of the Chartered Institute of Stockbrokers (CIS) visited him in the Commission’s headquarters in Abuja. He said the current management will strive to develop domestic investment from retail and institutional investors
Earlier in his remarks, President and Chairman of the Governing Council of the Institute, Mr. Albert Okumagba lamented the over 60 percent control of the Nigerian stock market by foreign investors.
Okumagba said, the current situation were over 60 percent of the market is control by foreign investors give serious cause for concern He said: “The level of participation of our locals is effectively less than 3 million when ideally over 80 million of our people should be in the market.
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