SEC begins implementation of recommendation on Commodity trading

The Securities and Exchange Commission (SEC) on Wednesday said it has commenced the implementation of the report of its Technical Committee on Commodities Trading Ecosystem.

The Acting Executive Commissioner (Operations) of SEC, Mr Isyaku Tilde, disclosed this when a delegation of the Commodity Brokers Association of Nigeria (CBAN) led by its Registrar, Alhaji Saleh Kwaru, visited the Commission in Abuja on Wednesday.

One of the recommendations, according to Tilde was to build the capacity of stakeholders and the public on commodities exchange to bridge the existing knowledge gap.

Tilde, who represented the commission’s Acting Director-General, Mrs Mary Utuk, expressed the readiness of SEC to partner with CBAN to achieve the implementation of the recommendations.

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“The aim of SEC is to have an efficient commodities exchange because right now that sector of the capital market is dormant.

“Part of the issues that the committee is trying to address is capacity building and public enlightenment campaigns.

“I believe that part of the things CBAN is doing is capacity building, which is one area where we can collaborate going forward,” he said.

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