Abuja — Outgoing United States Ambassador to Nigeria, Dr. Robin Renee Sanders has commended the new Director General of the Nigerian Securities and Exchange Commission (SEC), Ms. Aruma Oteh for transformative actions being taken to reform the country's capital market.

Sanders who was speaking during a meeting with Oteh in Abuja recently assured Nigeria that the US government would supports SEC's efforts and seek ways to expand existing capacity, building, and technical assistance programms A statement made available to THISDAY in Abuja by the US Mission in Abuja yesterday noted that the envoy meet with SEC DG to discuss key capital market issues in Nigeria, Nigeria's sovereign rating, and efforts to improve the regulatory environment and transparency of actions taken by stock brokerages in the country.

"I am impressed by the bold actions that the Nigerian SEC has undertaken to date under Mrs. Oteh to reform the Nigerian capital market sector, as well as by key programs the SEC has outlined for the remainder of the year with sector stakeholders.

These bold steps by the SEC are a critical piece to further enhancing Nigeria's overall macroeconomic framework," the ambassador said.

Oteh in her response sought continued cooperation between the Securities Exchange Commission of the US which has led to an exchange of assessment visits by officials of both commissions.

She expressed satisfaction with ongoing cooperation between the U.S SEC and the Nigerian SEC, noting the partnership between the two commissions had led to a recent assessment visit to Nigeria by the U.S. SEC.

Oteh noted that a vibrant capital market is necessary to Nigeria's pursue of economic development.