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
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