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SEC starts implementation of report on commodities market development

The Securities and Exchange Commission has said it has commenced the implementation of the report of its Technical Committee on Commodities Trading Ecosystem.

The Acting Executive Commissioner (Operations) of SEC, Mr Isyaku Tilde, disclosed this when a delegation of the Commodity Brokers Association of Nigeria led by its Registrar, Alhaji Saleh Kwaru, visited the Commission in Abuja on Wednesday.

The  News Agency of Nigeria, reports that the committee’s report, published on SEC’s website, contains no fewer than 40 recommendations on how to revive the nation’s commodities market.

One of the recommendations, according to Tilde is to build the capacity of stakeholders and the public on commodities exchange to bridge the existing knowledge gap.

Tilde, who represented the commission’s Acting Director-General,  Mrs Mary Utuk, said that SEC was ready to partner with CBAN in that regard.

“The aim of SEC is to have an efficient commodities exchange because right now that sector of the capital market is dormant.

“Part of the issues that the committee is trying to address is capacity building and public enlightenment campaigns.

“I believe that part of the things CBAN is doing is capacity building, which is one area where we can collaborate going forward,” he said.