Monday, October 18, 2021

SEC partners EFCC on capital market frauds

Must read

Rayyan Alhassanhttps://dailynigerian.com/author/rayyan/
Rayyan Alhassan is a graduate of Journalism and Mass Communication at Sikkim Manipal University, Ghana. He is the acting Managing Editor at the Daily Nigerian newspaper, a position he has held for the past 3 years. He can be reached via [email protected], or www.facebook.com/RayyanAlhassan, or @Rayyan88 on Twitter.
- Advertisement -

The Securities and Exchange Commission, SEC, has engaged staff of the Economic and Financial Crimes Commission on capital market training to reduce financial crimes.

The Director, SEC Lagos Zonal Office, Stephen Falomo, in an address during a one-day training on Wednesday in Lagos, said the training was to drive development in the capital market.

The theme of the training was entitled: “Enlightenment Programme on the Capital Market and the Investigation of Capital Market Complaints.

Mr Falomo said the training was one of the strategies of the SEC to drive the development of the market.

He added that it was aimed at sharing knowledge with the EFCC to achieve a well-regulated, dynamic, fair and equitable market.

READ ALSO:   Alleged N1.2bn fraud: Bala Mohammed’s son knows fate on December 13

“The special enlightenment programme is aimed at intimating the officers of the EFCC on the workings of the capital market in general and enhancing the investigative skills required to handle capital market related complaints.

“The SEC is the apex regulator of the Nigerian capital market. It is empowered by the Investment and Securities Act (ISA) of 2007 to regulate and develop the Capital Market.

“Organising programmes like today’s workshop is one of the strategies of the commission to drive the development of the market, while at the same time, sharing knowledge with a sister agency like the EFCC to achieve a well regulated market that is dynamic, fair and equitable.

READ ALSO:   CAN hails senate for reverting to electronic voting, transmission

“We are all aware that the EFCC is responsible for the investigation and prosecution of financial crimes and that a large chunk of complaints and infractions in the capital market can be deemed to be financial crimes.

“It is, therefore, imperative that the SEC supports the EFCC with up-to-date knowledge of the intricate workings of the capital market and some useful information on the investigations of financial crimes emanating from players in the capital market space,” he said.

In his remarks, the EFCC Zonal Commander, Lagos, Ahmed Ghali, recalled the existing relationship between both agencies, and charged the participants to take maximum advantage of the training.

READ ALSO:   APC zoning arrangement: A knot too tough to untie, by Bala Ibrahim

Mr Ghali said: “I assure you that the facilitators will throw light on a number of capital market matters, where you may be having challenges.”

NAN

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest article

- Advertisement -
cosgrove