SEC restates commitment to boost commodities market

The Director-General of Securities and Exchange Commission, Lamido Yuguda has said that the Commission is committed to developing the commodities ecosystem in Nigeria.

The SEC boss disclosed this at the 2022 annual conference of the Finance Correspondents Association of Nigeria in Lagos on Saturday with the theme ‘Boosting domestic capacity for sustainable export earnings’.

Yuguda who was represented by the Director, Lagos Zonal Office of the Commission, Hafsat Rufia, stated thus:

“We believe that implementation of the roadmap for a vibrant commodities trading ecosystem in Nigeria by the commission will support development of the agricultural sector and diversification of the Nigerian economy and, ultimately, advance the country towards attaining sustainable foreign exchange earnings,” he said.

He added that it was imperative that the country focused on all the sustainable foreign exchange earning avenues of the capital market for support over the medium to long term.

“We must, therefore, leverage on the capital market through the commodities ecosystem, the equity and bond markets to develop and exploit all the potential sources of forex”.

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