The Securities and Exchange Commission (SEC) has set an ambitious goal of achieving 50 listings of Shari’ah-compliant products with a combined market capitalization of at least N5 trillion by the year 2025.
This announcement was made by Mr. Lamido Yuguda, the Director-General of SEC, who was represented by Mr. Dayo Obisan, the Executive Commissioner of Operations, during a capacity-building workshop in Abuja.
SEC hosts workshop
The workshop, titled “Capacity Building Workshop for Local Shariah Talent for Non-Interest Capital Market – Level II,” is part of the efforts to boost the Non-Interest Capital Market (NICM) segment of the revised Capital Market Masterplan (2021 – 2025).
The sec aims to have 100 retail Shariah-compliant products and attract over one million direct investors in these products as part of its NICM development plan.
To achieve these objectives, the Commission is focusing on capacity building and nurturing professionals well-versed in Shariah best practices to facilitate the implementation of Sharia-compliant initiatives and further enhance the NICM sector.