Nigeria's Securities and Exchange Commission (SEC) and the Financial Services Commission of Mauritius have signed a Memorandum of Understanding (MoU) to strengthen regulatory cooperation of both agencies.

A statement issued by SEC in Abuja on Wednesday said the agreement was signed at the ongoing International Organisation of Securities Commissions (IOSCO) Annual Conference in Beijing, China.

It stated that the MoU was aimed at "further strengthening regulatory cooperation between the two jurisdictions.

"The two jurisdictions stand to mutually benefit from the collaborative agreement, especially in the areas of combating cross border financial crimes, increased attraction of investments and enhanced profile.

"Other areas of benefit include enhanced information sharing and capacity building, which have become critical following the global financial crisis."

The statement added that the signing of the MoU brought to nine the number of agreements so far entered into by the commission with other jurisdictions.

The others are China, Ghana, India, Kenya, Malaysia, South Africa, Tanzania and Uganda.

NAN