Rivers
President, Association of Stockbroking Houses of Nigeria,
Mr Emeka Madubuike,
yesterday said that operators in the capital market would embark on nationwide
investor education on dematerialisation in January.
Madubuike told newsmen in Lagos that the
sensitisation programme would cover all the regions in the country.
That dematerialisation is the
elimination of physical certificates or documents on ownership of securities
through conversion to electronic ownership mode domiciled with the Central
Securities Clearing System.
Madubuike, also the Chairman of the
Committee on Dematerialisation of the Securities and Exchange Commission (SEC),
said that the project was aimed at ensuring that investors bought into the
electronic type of share certificates.
He said that the operators would also
educate investors on the rudiments of the market to increase their
participation in the market.
According to him, the capital market operators
will use the project to reach out to as many investors as possible to boost
their confidence in the market.
Madubuike said that the project, which
would be first launched in Lagos, would bring the 12- year old
dematerialisation policy to fruition.
He said that operators in the market
were working together to achieve this objective.
Madubuike said that the CSCS and
registrars were deeply involved in the exercise for data capturing of all
investors’ details.
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