The Managing Director of the Securities and Exchange Commission (SEC), Mr. Lamido Yuguda, said that the objective of the West African capital markets integration program is the creation of an enabling environment for cross-border transactions in securities and integration of all capital markets. jurisdictions of the ECOWAS region.
Yuguda said so during a meeting with the Managing Director of SEC Ghana in Accra recently.
According to Yuguda, given the huge potentials of cross-border listings, capital markets in the region should develop a cooperative tool to enable them to effectively control their respective markets and ensure that the regulatory standards established by IOSCO are maintained. . , and if possible, improved.
He said, “Without the preparation of all parties involved, the lofty goals of the program might as well remain a dream. This means, unequivocally, that this goal can only be achieved seamlessly when all ECOWAS Member States join us and actively commit to achieving the lofty goals of the enhanced collaborative structure that these types of agreements allow.
“On that note, SEC Ghana and SEC Nigeria, keen to achieve these ideals, have taken the lead in leading by example and piloting this project in the sub-region while hoping to one day extend its coverage beyond from sub-regional borders to other regions. parts of the African continent.