Nigeria

SEC partners EFCC to curtail capital market crimes

The Securities and Exchange Commission (SEC) has inaugurated the Securities Issuers Forum (SIF), designed to aid capital market development in the country.

The Securities and Exchange Commission (SEC) and the Economic and Financial Crimes Commission (EFCC) have collaborated on capital building training to reduce financial crimes in the capital market.

The training tagged ‘Enlightenment Programme on the Capital Market and the Investigation of Capital Market Complaints’ was held in Lagos on Tuesday.

Stephen Falomo, director, SEC Lagos zonal office, said the training was one of the strategies of the agency to drive the development of the market while also sharing knowledge with the EFCC to achieve a “well-regulated market that is dynamic, fair and equitable.”

Falomo said the special enlightenment programme is aimed at intimating the officers of the EFCC on the workings of the capital market in general and enhancing the investigative skills required to handle capital market-related complaints.

“The EFCC is responsible for the investigation and prosecution of financial crimes, and a large chunk of complaints and infractions in the capital market can be deemed to be financial crimes,” he said.

“It is, therefore, imperative that the SEC support the EFCC with up-to-date knowledge of the intricate workings of the capital market and some useful information on the investigations of financial crimes emanating from players in the capital market space.”

On his part, Ahmed Ghali, EFCC zonal commander, Lagos, charged the participants to take maximum advantage of the training.

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