Assets Custodians is partnering with the Securities and Exchange Commission (SEC) and other capital market trade groups in critical market development efforts.
The newly elected executives of the Association of Assets Custodians of Nigeria (AACN) during a courtesy call to the senior management of the SEC, recently in Abuja, confirmed their association’s commitment to supporting the SEC and other trade groups in efforts aimed at further developing the Nigerian capital market.
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Kemi Adewole, president of the AACN, and head of Citibank Nigeria’s Custody business, pledged that the custodians will work with the SEC in the area of market process improvements to boost investors’ confidence in the Nigerian market. Other critical areas highlighted included reviewing the investors’ complaint management mechanism, collaboration with other trade groups in delivering quality investor experience, and a more active participation in Capital Market Committee (CMC) sub-committees, etc.
Responding, Munior Gwarzo, acting director-general of the SEC, stated the Commission’s support for empowering Capital Market Trade Groups to regulate and hold their members accountable as a way of ensuring quick complaint resolutions that will in turn improve investors’ confidence and reduce escalations to the regulators.
Also representing the Custodians was Biodun Adebimpe, head of Standard Chartered Bank’s Custody Department and secretary of AACN.
