Why we Encourage Marked integration – Yuguda
DG, Securities and Exchange Commission Mr. Lamido Yuguda
Director General of the Securities and Exchange Commission Mr. Lamido Yuguda has said that the aim of the West African capital markets integration programme is the creation of an enabling environment for cross-border securities transactions and the integration of all capital markets jurisdictions in the ECOWAS region.
The Blueprint reported that Yuguda stated this during a meeting with the Director General of SEC Ghana Rev in Accra recently.
According to Yuguda, in view of the enormous potentials of cross border listings, capital markets in the region are expected to develop a tool of cooperation that enables them to effectively police their respective markets and ensure that the standards of regulation set out by IOSCO are sustained, and where possible, improved
He said, “Without the readiness of all concerned, the lofty aims of the programme may as well continually remain a dream. It goes to say, unequivocally, that this goal can only be achieved seamlessly when all member states of ECOWAS come on board and actively commit to achieving the noble objectives of the enhanced collaborative structure that these nature of agreements
The SEC DG said that the enduring relationship between the two jurisdictions is more amplified by the fact that Ghana and Nigeria both have the largest markets in the West African sub-region and it will only be good foresightedness that both countries seize the advantage of size and peculiarities, and explore viable areas of cooperation, even as we continue to work assiduously with other stakeholders to integrate our markets and provide greater opportunities for the economic prosperity of our peoples and our economies.
We need to come closer and take deliberate steps to achieve bilateral co-operation. We are very keen on this relationship. There is a strong relationship between us so we need to continue to nurture and grow it and create institutions that will help our people have better living standards. I hope we can achieve a lot by bringing our capital markets together. We need to make our institutions stronger as well as our economic activities,” he said.
In his remarks, the DG of SEC Ghana, Rev Daniel Ogbarmey Tetteh commended the SEC DG stated that Ghana and Nigeria can push forward in ways that will bring about the mutual benefits of leveraging the capital market adding that the region needs to have their markets open to each other so that they can achieve more and then attain one big capital market.
