The Director General, Security and Exchange Commission (SEC) Dr. Lamido Yuguda, and the Executive Secretary, Financial Reporting Council of Nigeria (FRC), Mr. Daniel Asapokhai, have vowed to improve regulation in the country in furtherance of Federal Government’s policy on ease of doing business.
The duo, who stated this on the occasion of Issuers and Investors Alternative Dispute Resolution Initiative (IIADRI) Symposium held at the LCCI Exhibition Centre,Alausa –Ikeja, Lagos, however, urged Nigerians to be patient with regulators in the in the overall interest of the country. Also speaking at the event, the two lead speakers, Igho Dafinone, Managing Partner, Crowe Dafinone, and Mrs Cecilia Madueke, Company Secretary, Julius Berger Plc, stressed the need for regulators in the financial sector to change their modus operandi.
They emphasised the need for regulators to have a human face in carrying out their mandate, saying that the status quo is oppressive and over-bearing at times. According to them, if the ease of doing business mantra of the Federal Government is to work out well, there is the need for the regulators not to be quick to resort to sanctioning operators. They called for the reformation of multiple taxation policies in the country, incessant fines and frequent change of policies without adequate notice or consultation.