Revised capital market master plan tops agenda of first Capital Market Committee meeting in 2023

The implementation of the revised master plan of the capital market will dominate the agenda of the first Capital Market Committee meeting of the Securities and Exchange Commission (SEC) in 2023.

A statement by the Commission on Sunday identified other issues for deliberations to include fintech and commodities trading ecosystem roadmap.

It said in part: “During the meeting, issues bordering on implementation of the Revised Capital Market Master Plan, implementation of the Fintech Roadmap, the commodities trading ecosystem roadmap as well as other salient matters relating to the capital market and the economy would be discussed.”

The commission unveiled the Revised Capital Market Master Plan in November 2022 to serve as a blueprint to harness opportunities to better position the capital market as the engine of economic growth and development, The Punch reports.

According to the Commission, some of the CMMP initiatives that had been implemented include; direct cash settlement, regularisation of multiple subscriptions, dematerialisation of share certificates, and the introduction of the e-dividend management system.

The regulator added that the CMMP initiatives had helped in promoting transparency, protecting investors and enhancing market confidence, while also ensuring that only fit and proper persons were allowed to operate in the capital market.

It was also stated that the capital market master plan aligned with the Federal Government’s economic strategy, focused on deepening the capital market and encouraging a private sector-led economy to drive inclusive growth.