The Central Bank of Nigeria, CBN, has told the Nigerian Senate not to create confusion or friction for it and the Securities and Exchange Commission, SEC.
The statement was handed to the upper legislative chamber during a one-day public hearing organised by the Senate Committee on Capital Market on Thursday in Abuja in moves to amend the SEC bill. The proposed bill seeks an act to repeal the Investment and Securities Act 2007 and enact the Investment and Securities Bill 2024.
' He, however, said that aside for observations raised, CBN, like other critical stakeholders, is in support of the planned new law for the regulation of investment and securities and generally the capital market. In his presentation, the Director-General of SEC, Dr Emomotimi Agama, said the move by the Senate committee to repeal the Investment and Securities 2007 Act and enact a new one is necessary.
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