Investor Presentaiton
CHAIRMAN'S MESSAGE
I hereby present to you the 2013 Annual Report and
Accounts of the Commission.
In keeping with the mandate of the newly inaugurated Board
of the Commission to drive market growth through
innovation, financial inclusion and effectiveness, 2013
proved to be a year of immense improvement and
development in the Nigerian capital market.
Domestic participation in the stock market improved
favourably in 2013 due to on-going reforms and initiatives
which affected market indices positively, as the All Share
Index showed sustained growth throughout 2013. It
experienced a major downside in June and August and
declined by 4.31% and 4.39% respectively, owing partly to
the remark of Ben Bernanke, Chairman of the US Federal
Reserve Board about a potential beginning of the end of the
Federal Reserve Board's quantitative easing. However, the
All Share Index rallied and as at December 2013, stood at
39,562.75 points, indicating an appreciation of 40.90% year
to date, exceeding the 35.45% appreciation recorded in
2012. In addition, total market capitalization closed at
N18.60 trillion from N14.80 trillion in 2012, indicating an
appreciation of 25.68% and an upsurge in market activity
and market confidence. In contrast to the position in 2012,
transactions on the Exchange also improved tremendously
as turnover value stood at about N1.01 trillion from the sale
of over 104.20 billion securities in about 1.40 million deals.
The trading value, volume of securities traded and number
of deals appreciated in 2013 by 53.61%, 16.85% and
39.98% respectively.
with
In pressing forward
its Anti-Money
Laundering/Combating Financial Terrorism agenda, the
Commission inaugurated the Committee of Chief
Compliance Officers of Capital Market Operators in Nigeria
(CCCOCIN) to strengthen the AML/CFT regime and
facilitate greater compliance by the market operators. The
Commission's significant progress in improving its AML/CFT
regime through enhanced supervision, established legal and
regulatory framework and participation in AML/CFT
compliance review sessions by regional group for Africa and
the Middle East preceded the removal of Nigeria by the
Financial Action Task Force from the list of high-risk
jurisdictions. In addition, the Commission has amended and
gazetted the “AML/CFT REGULATION FOR CAPITAL
MARKET OPERATORS 2013" to conform with the
amendments made by the National Assembly to the
principal Acts (MONEY LAUNDERING PROHIBITION) ACT
2011 (as amended); AND TERRORISM (PREVENTION)
ACT 2011 (as amended).
The proliferation of wonder banks/ponzi schemes in our
market has been a continuous challenge to the Commission
as victims of this malfeasance have been the investing
Annual Report and Accounts 2013 - Securities & Exchange Commission
9View entire presentation