Senate Commits To Enacting Laws To Boost Investment In Securities
The Nigerian Senate says it is committed to ensuring the speedy passage of Investment and Securities Act (ISA), the Companies and Allied Matters Act (CAMA) and the Financial Reporting Council Act.
The pledge was made by the Senate President, Bukola Saraki, at a meeting with the Director-General of the Securities and Exchange Commission (SEC), Mr Mounir Gwarzo, in Abuja.
The senate president assured him that the bills would be looked into as soon as possible, as they would help create an enabling business environment for the country when passed.
“The most important thing is to see that we carry out the necessary amendment that will be in line with best practice that will create and ensure that Nigeria is an investment destination.
“And as such, we will be able to help our people provide job, employment, fight poverty and to create wealth.
“I want to assure you that these reports will not just lie without anything being done, I promise you that we will start counting the work from now and ensure that we start the process.
“Hopefully, very soon we will pass the bill. These are very important bills and we believe that by passing those bills, it will create an impact to the economy and the country,’’ Saraki said.
He commended the SEC team for the work it had done in reviewing the laws and assured continued partnership of the senate to the activities of the capital market committee.
The SEC director-general, in turn, requested that the NASS should adopt the report of the various law review committees as a working document for the amendment of the laws.
He explained that it was important that the report be adopted, given the depth of work that had been put into the review of the Act.
The capital market in June 2016, held a conference to find ways in which it could contribute to the country’s economic recovery.