Kudos Trail PenCom’s Investment Guidelines Review Proposal

Some capital market operators, have hailed plans by the National Pension Commission (PenCom) to review its investment guidelines on the Nigerian Stock Exchange (NSE).

They said that the proposed review of the investment regulation would increase local participation in the market.

They also said proper implementation of the new investment regime would also engender stability in the capital market.

Mr Muhammad Ahmad, Director-General of PenCom, had last Wednesday, said that the commission would float four funds.

He said that the commission was interested in reviewing its laws to allow more pension assets to be invested in the market.

Malam Garba Kurfi, the Managing Director of APT Securities and Funds Ltd., said that the review of the investment guidelines would encourage more participation in the market.

“PenCom needs to speedily do this review to deepen activities in the market,“ he said.

Mr Wale Onigbode, the Managing Director of Calyx Securities Ltd., also said that activities in the market would improve with the new rule.

Onigbode urged the Securities and Exchange Commission, the NSE and PenCom to collaborate to ensure the realisation of this objective.

Mr Eugene Ezenwa, the Managing Director of Pac Securities Ltd., commended PenCom for this attempt, saying that the PFAs needed “to be more engaged“.

He said that the NSE could ensure strict compliance with the new investment guildlines whenever they became operational.