Investor Presentaiton

public. The Commission has periodically organized outreach programs and sensitizations on financial literacy to arm the investing public with sufficient knowledge to aid in combating these ills in the capital market. It is our belief that this would contribute immensely to sanitizing our market. Through its newly reconstituted Administrative Proceedings Committee and the creation of a Call Centre as part of its complaints management mechanism, the Commission is poised to dispense speedy resolution to market related disputes and effectively manage market complaints. The Commission has also improved its inter-agency collaboration in 2013 and has cultivated a stronger working relationship with law enforcement agencies, with the Commission hosting resident teams from both the Federal Ministry of Justice and the Nigerian Police who assist in investigation and enforcement functions of the Commission, all geared towards a renewed drive for ensuring investor protection, market confidence and maintaining a strong and healthy market. The Commission received one hundred and nine (109) applications in the course of the year for various capital market functions. Thirty seven (37) applicants were granted approval to operate in the capital market while three (3) applicants were denied approval for failure to meet the Commission's requirements. The other applications are still under process. In implementing the recommendations of the International Monetary Fund sponsored FSAP report, the Commission has commenced the process of strengthening staff capacity in core areas. A Commission-wide restructuring was approved by the Board in 2013 for immediate implementation. In addition, the Commission is committed to engaging the services of proven professionals to its core areas of operations. The restructuring and recruitment efforts of the Commission is being undertaken with a view to enhancing staff capacity and experience as well as maximizing the potentials of the organization towards positively impacting the capital market and the Nigerian economy. Distinguished ladies and gentlemen, with 2013 ending on an optimistic note for the market, the outlook of the capital market in 2014 remains positive. The Commission renews its commitment to excellence and will continue to sustain its improved regulatory and developmental roles. Mal. Suleyman .A. Ndanusa, OON Chairman Securities and Exchange Commission March 2014 Annual Report and Accounts 2013 - Securities & Exchange Commission 10

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