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Investor Presentaiton

DIRECTOR GENERAL'S STATEMENT I have the pleasure to present the Annual Report of the Securities and Exchange Commission for the year 2013. The 2013 was a year of tremendous strides in the market as a new Board was inaugurated for the Commission. Nigerian bond market witnessed the first supra-national bond worth N12.0 billion (US$76 million) floated by the International Finance Corporation (IFC) early in 2013 and the first Sukuk of N11.4 billion sponsored by the Osun State Government, while the equities market capitalization achieved a new historical record on the 11th of June 2013, when it closed at N12.85 trillion to surpass the record of N12.46 trillion (by NO.21 trillion) set in 2008 just before the financial meltdown. The indicator rallied to end at N12.66 trillion by December 20, 2013 from N8.97 trillion in 2012 to record an appreciation of 41.14% year-to-date, in contrast to 2012, where the equity capitalization appreciated by 37.36%. In validating the market's position as an infrastructure partner to Nigerians, two (2) State governments (Lagos and Niger) raised a combined bond sums of N99.50 billion during the year. The total number of new issues in 2013 stood at Fifty-eight (58) with total value of N1.16 trillion as against fifty (50) issues worth N1.06 trillion in 2012. In demonstration of its commitment to restoring investor confidence in the market, the Commission commenced the process of verifying the actual quantum of unclaimed dividend in the capital market in conjunction with the Nigerian Stock Exchange, Central Securities Clearing System and four (4) top rated Accounting firms in Nigeria. The verification of unclaimed dividend exercise is expected to be carried out alongside the reconciliation of materialised and dematerialised share certificates. The Commission took steps to strengthen its technological capacities to place it at par with global contemporaries, respond to the challenges of an increasingly technologically advanced market and phase out manual processing in a bid to evolve and fast track its processes. The Commission invested in an Enterprise Resource Planning System and automated its financial management processes to ultimately engender reduced overhead and improved efficiency. As an interim measure, while awaiting completion of the e-filing. Annual Report and Accounts 2013 - Securities & Exchange Commission 11
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