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FG told to set SEC board

Shareholder group leader, Mr Okezie Boniface, has called on the Federal Government to constitute a board for the Securities and Exchange Commission, SEC.

This is against the backdrop of the recent developments around the leadership of the Apex regulator of the Nigerian Capital Market.

In a recent interview with Proshare WebTv, Mr. Boniface said It was unfortunate that SEC Nigeria had no board at the moment, and the last Chairman of the Board was Mr. Peter Obi (former Anambra State Governor) who was appointed in 2015 and spent only one month in office.

He was concerned that the current administration, despite appointing boards for other critical parastatals and agencies, did not give attention to that of SEC. gave a brief insight on development of Oando issue and the SEC Nigeria.

Mr Boniface said, “The government has no interest in developing the economy and the capital market, the economy cannot develop without the capital market and it is very unfortunate that our government doesn’t take seriousness in developing the capital market”.

Speaking further, he said that the government raises bonds and money in the capital market, but has refused to take the capital market serious.

On the reassignment of portfolios and appointment of Ms Mary Uduk as the Acting Director General, Okezie was of the view that SEC Nigeria is a team work, and frowned at frequent interference in the market.

He believed that the undue interference from the government, could undermine and destroy the capital market, which is a barometer for the growth of an economy.

Mr Okezie also called on the government, to appoint a substantive Director General for SEC Nigeria, to instill confidence in the market.

The shareholder group leader said he wanted SEC Nigeris to return back to the days of the Suleiman Ndanusa led-board, where the Nigerian capital market achieved remarkable transformation.

Sunday Olatunji
Dele Fashomi, seasoned journalist and communication teacher, is a holder of Master of Arts degree in Communication and Language Arts from the University of Ibadan in 1992/93. Earlier, he had bagged a Bachelor degree from the same university in 1984, after which he proceeded to the Nigerian Institute of Journalism, Lagos, in 1990, for a postgraduate diploma in Journalism. He had done many courses in communication, including the EU-BBC Editing Course in 2002. Mr. Fashomi combines effectively the practice, research and teaching of communication. And to date, he has published two academic works in communication: Issues in Communication Technology and Policy (2010) and Economic and Social Issues in Advertising and PR (2013). He had his first break in the Nigerian media in Concord Newspapers in 1990 and today, he has over two and half decades experience earned in several newspapers. He has been part of many start-ups, such as The Republic (1987), The Comet (1999), The Anchor 2001 - 2002; Sun Newspapers (2003); Westerner newsmagazine (2005 - 2010) as Editor; National Life (2011) as Sunday Editor, and Newswatch Newspapers (2012- 2016) as Daily Editor. Dele Fashomi is now the Publisher/Editor-in-Chief of newspaper online, which he started in July 2015. He is also into biography writing, with many books in his trail, some of which he wrote alone and one he co- authored with his mentor, Mr Dare Babarinsa, entitled:  Olabiyi Durojaiye - DARE TO BE DiFFERENT. He also guided and collaborated with Pa Olatunji Odusanya in writing his autobiography - AGAINST ALL ODDS. There are many other books in the works under his pen.