New Telegraph

SEC: Automation of processes key to efficiency

Securities and Exchange Commission (SEC)

Securities and Exchange Commission (SEC)

The Securities and Exchange Commission, SEC, has expressed its desire to automate its processes in a bid to conform to current technological trends the world over as well as ensure a more efficient capital market. Director General of the SEC, Mr. Lamido YUGUDA, who stated this during a meeting with the Minister for Communication and  Digital Economy, Mr. Isa Ali PANTAI, in Abuja, Monday, said automating most of the commission’s processes would also make the capital market more friendly to investors. Yuguda said,: “Presently, we have a lot of documents and papers being brought to the Commission for one approval or the other, we think that if we can digitalise our processes and these documents are transmitted to us electronically, it will make it easier for the market that we regulate and also stimulate growth.

 

“If we can achieve that, it will also reduce cost and increase efficiency, that is why we are here today to discuss with you on areas we can worktogethertoachievethis.”

The SEC boss stated that the advent of COVID-19 had shown what can be achieved with technology, as during the period since March, the capital market has been working in spite of lockdowns and effects of the pandemic.

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