20 June 2012

Nigeria: Bello, SEC Boss, Vows to Restore Investor Confidence

The Acting Director-General of the Securities and Exchange Commission (SEC), Mr. Ibrahim Bolaji Bello, has vowed to restore investor confidence and leave a positive legacy in the market.

A statement from the Commission Tuesday said Bello, who assumed the new position on Monday, made the declaration while addressing members of staff.

He assured them of fairness to all and stressed the need to close ranks.

Bello said: "Forget about the past. It is going to be a team work, not me alone and your welfare, especially on outstanding staff matters will be addressed immediately in line with laid down policy and procedure but subject to availability of resources. Just put in your best to ensure that we together move the market forward. We have no time for endless talk, let our work speak for us."

"We expect commitment, cooperation, dedication and discipline. We want to leave behind, a SEC that everybody will be proud of and the one that the coming generations would commend us for. We have been given opportunity, let's work together to leave a legacy."

The SEC boss will this week meet with the various operators in the market, including the Nigerian Stock Exchange (NSE), stockbrokers, the Central Securities Clearing System (CSCS), executive officers of the Chartered Institutes of Stockbrokers and Association of Stockbroking Houses (ASHON) among others.

Meanwhile, trading at the stock market ended on a positive note yesterday as the Nigerian Stock Exchange (NSE) All-Share Index appreciated by 0.26 per cent to close at 21,082.11.

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