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Avoid ponzi, take opportunities in capital market ─ SEC

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THE Securities and Exchange Commission (SEC) has encouraged investors to look into the capital market for opportunities.

Speaking in Lagos yesterday at the 2020 ThisDay Awards, Mary Uduk, acting Director-General said Nigerians should take advantage of opportunities available in the stock market.

“You don’t need to have so much money to be able to tap into the opportunities available in the capital market.

“All you need is to approach the stockbrokers, whatever amount you have you can pay into your Central Securities Clearing System (CSCS) account and you give instructions on the kind of investments you want to make.”

Uduk said it is important for people to understand the workings of the capital market and not have the misconception that they must have a lot of money before they can invest.

“We have to disabuse our minds of it. I think that is what is leading people into putting money into Ponzi schemes and lose their money. So all you need to do is to go to SEC website see the list of capital market operators and approach one of them to open an account,” she said.

SEC would continue to play its role of providing a good playing ground for investors to ensure they reap the benefits of their investments, she said.

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“The SEC is very interested in investor protection and that is why we have rules that the players must obey and all these are channeled towards ensuring that our market is safe for investors.

“The smaller the investors the more he or she is protected. We do not want any investor to go into the market and lose money that will not be good for our market.”

Uduk said the SEC would continue to educate and enlighten Nigerians about the investment opportunities available in the market and urged potential investors to engage professionals who will guide them on relevant products to invest in.

“In the past, people just go to stockbrokers to buy stocks without having proper knowledge of what to buy but now we are encouraging people to go through the investment schemes.”



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