SEC to re-build e-dividend platform
SEC DG, Lamido Yuguda

The Securities and Exchange Commission (SEC) says the new Capital Market Masterplan (2021 – 2025) has a projection of 50 listings of Shariah compliant products with a market capitalisation of at least N5 trillion by the year 2025

Director General, Securities and Exchange Commission (SEC), Lamido Yuguda, said the non-interest capital market (NICM) is also expected to lead to emergence of 100 retail Shariah-compliant products and more than one million direct investors in Shariah-compliant products with at least N5 trillion investment by institutional investors in Shariah compliant products.

According to Yuguda, the stride and significant achievements recorded by the masterplan is evidenced by the last ranking of Nigerian Islamic Finance in 13th place on the global Islamic Finance Development Indicator 2021, with the assets under management valued at N2.30 billion; which is higher than countries like Bangladesh and Turkey.

“The level of activities in the non-interest capital market that we are currently experiencing in Nigeria affirms the overwhelming acceptance of NICM products by the country’s populace. This shows a strong appetite for other alternative forms of investments. Recently, the market witnessed the entrance of institutions offering non-interest capital market services/products and the oversubscription of the FGN and corporate Sukuk, further buttresses the need for this workshop to encourage the development of Shariah experts for the market,” Yuguda said.

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