SEC set to launch USSD code, ISS Audio

A file photo of the Securities and Exchange Commission building

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The Securities and Exchange Commission is set to unveil two innovative products: a USSD Service and ISS Audio, designed to democratise information dissemination and enhance investor engagement.

In a statement on Wednesday, the Commission said the unveiling will take place at the forthcoming Capital Market Committee Meeting scheduled for next Monday at the Federal Palace Hotel, Victoria Island, Lagos.

The SEC disclosed that the forthcoming CMC will interrogate critical themes germane to the sustainable development of Nigeria’s capital market. Central to these deliberations are discussions on global macroeconomic dynamics and their transmission effects on domestic financial markets, as well as the importance of cross-border financial integration within the African context.

“Equally salient are discourses on unlocking pension fund investments, enhancing market liquidity, and stimulating innovation through targeted regulatory reforms. A significant component of the programme will be devoted to evaluating the trajectory of the Capital Market Master Plan. This will encompass a comprehensive review of key achievements and the formal sunset of the 2025 CMMP, alongside the articulation of a strategic framework for the 2030 CMMP Plan,” the Commission said in the statement.

Furthermore, the agenda incorporates an analytical session on Nigeria’s recent tax reform legislation and its implications for capital market efficiency and investor confidence.

The SEC said, “Collectively, these discourses and initiatives underscore the strategic resolve to reposition the Nigerian capital market as a catalyst for inclusive and sustainable economic growth, consistent with national development objectives and global best practices.”

The CMC is an industry-wide body comprising the SEC, capital market operators, trade groups, and other stakeholders. It serves as a pivotal platform for dialogue, facilitates the exchange of ideas, addresses key issues impacting market growth and organisation, and collaborates on shaping the market’s future.

The committee was established primarily as a means for stakeholders to exchange ideas and provide feedback to the SEC, aiding in the continuous improvement of market operations and regulatory frameworks.

The meeting is expected to draw CEOs from all registered capital market firms, including brokers/dealers, investment advisers, custodians, fund/portfolio managers, and more.

Oluwakemi is a Senior Correspondent with The PUNCH. She has over 10 years experience across digital and traditional journalism spheres, and currently covers the Capital Market.

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