SEC Signs MoU With Oman Capital Market

The Securities and Exchange Commission (SEC) has signed a Memorandum of Understanding (MoU) with the Oman Capital Market, to ensure effective operations of the capital market of both countries.
This is communicated in a statement signed by Mr Yakubu Olaleye, the Acting Spokesman of SEC in Abuja, recently.
The statement noted that the MoU was signed on the sidelines of the recently-concluded 30th Annual General Meeting of the Africa and Middle East Regional Conference (AMERC) of the International Organisation of Securities Commissions (IOSCO) in Dubai.
“The MoU specifies the framework for bilateral co-operation and interface between Nigeria’s SEC and the Capital Market of Oman in matters relating to securities market development, oversight and regulation.
“It formalises and raises the profile of co-operation for the effective development and operation of the capital markets of both countries.’’
The statement quoted the Director-General of SEC, Ms Arunma Oteh, as saying that the MoU would enhance the operations of the capital markets of the two countries.
She said “the MoU speaks eloquently of the rising profile of both the Sultanate of Oman and the Gulf region as hub of global resource flows and investment destination.
“Similarly, Nigeria is the very epic-centre of an economically resurgent Africa.’’
Oteh said that effective co-operation in regulatory matters between the markets of the two countries would offer immense strategic possibilities for investors across the world.
She noted that the MoU would also help to remove impediments in trade and investment traffic across the two market jurisdictions.