New SEC DG seeks support, as Dangote meets NSE council members

New SEC DG seeks support, as Dangote meets NSE council members

The Acting Director-General of the Securities & Exchange Commission (SEC), Ibrahim Bolaji Bello, has met with senior directors, heads of department and staff of the DG’s office, seeking their support to restore investor confidence

The SEC DG was quoted in a statement from the Commission as assuring the staff of fairness, and his desire for teamwork, soliciting their support, commitment, cooperation and discipline to move the market forward, also spoke of plans to interface with market stakeholders.

Also on Tuesday, based on last weekend’s favourable ruling by the Court of Appeal setting aside the decision of the lower court, Alhaji Aliko Dangote, yesterday resumed as President, Council of the Nigerian Stock Exchange.

Sources said he showed at the NSE building at about 4.30 pm, and immediately went into the council room where he chaired a brief closed door meeting of the council attended by his predecessor- Oba Otudeko and others.

The SEC boss who addressed the commission’s staff on Tuesday spoke of the need to close ranks, expressing his desire to restore investor confidence and leave a positive legacy in the market.

Bellow, according to Yakubu, also declared that outstanding staff issues would be handled with urgency, urging the staff to reciprocate with fresh commitment, cooperation, and discipline, and putting in their best to move the market forward.

He urged the staff, the statement said, to “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 acting DG stressed.

He assured that a quick win strategy will be adopted immediately to have positive effect on the market, by immediately engaging “on inspection, investigation and enforcement, investor education and restore registration activities and meet with various stakeholders in the market to have early positive impact”

He therefore enjoined the staff to suggest additional means of moving the market forward.

Bello will within the week, meet with 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.