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May 19th, 2015
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Capital market: We will address problem of new issuance in 2012 – Oteh The Director-General of the Securities and Exchange Commission (SEC), Ms Arunma Oteh in an interview with capital market correspondents discusses the challenges facing the Nigerian capital market, steps being taken to revive the market and the expectation for 2012. Excerpts:

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Capital market: We will address problem of new issuance in 2012 OtehThe Director-General of the Securities and Exchange Commission (SEC), Ms Arunma Oteh in an interview with capital market correspondents discusses the challenges facing the Nigerian capital market, steps being taken to revive the market and the expectation for 2012. Excerpts:What is the Commission doing in terms of attracting new issues?One of the things we must address is new issuance, whether it is fixed income or equities. This is because we have had a decline in new issuance. In fact, this year we have had no new issuance except for rights issues by a number of companies.So we have agreed with operators that there has to be concerted effort to bring new issuance to the market. One piece of it is that we must make sure that the market is attractive enough for them to come to list. But the other aspect is that we must make sure that the Exchange is a reflection of the economy.And also we followed the discussion around the importance of having telecoms companies, upstream oil and gas, agro businesses to list on the Exchange and ensure that the privatisation agenda of the government, particularly with reference to the power sector, allows us to have the privatised companies listed on the Exchange. It is something that we agreed to work on as early as possible in 2012 so that we can develop a road map for us to have new listings.How would your commission and operators assess the capital market in 2

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