[The Legislative Blog]: Senate receives 3 bills aimed at strengthening the capital market

The Nigerian Senate has received three draft bills from the Securities and Exchange Commission (SEC).

The Investment and Securities Bill, Companies and Allied Matters Act (CAMA) (amendment) Bill and the Financial Reporting Council of Nigeria Act (amendment) Bill, if passed into law, will help reposition the country’s capital market.

The bills were presented to Senate President, Bukola Saraki by the Director General of SEC, Mounir Gwarzo during a courtesy visit of the SEC delegation to the National Assembly on Thursday.

Saraki said to the delegation, “I want to assure you that this report will not just lie without anything being done on them. We want to promise you that you can start counting, we will start the process and hopefully, very soon we will be able to pass these bills,…”

The SEC noted though that it jumped to action after Saraki challenged it at a roundtable conference last year on coming up with ways of deepening the country’s capital market.

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