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The Securities and Exchange Commission (SEC) has expressed commitment to work with the Economic and Financial Crimes Commission (EFCC) to ensure that forex trading manipulations are reduced in the virtual space.
Acting director-general of SEC, Dr. Emomotimi Agama stated this while receiving the team from EFCC led by the executive chairman, Ola Olukoyede in Abuja.
Agama stated that, "SEC is ready to cooperate with the EFCC in order to achieve the national objective of making sure that illegality is not allowed to thrive.
“This is a testament to the relationship we have and the value you place on the SEC and the best interest of Nigeria. We believe this will be the beginning of greater things to come. My desire is for us to strengthen the existing Memorandum of Understanding we have and ensure it is more effective in dealing with current issues.”
He noted that, “We believe this form of co-operation is in the best interest of Nigerians. This collaboration is very necessary for us to get out of this forex crisis.”
He said, “this is a testament to the relationship we have and the value you place on the SEC and the best interest of Nigeria. We believe this will be the beginning of greater things to come. My desire is for us to strengthen the existing Memorandum of Understanding we have and ensure it is more effective in dealing with current issues.”
He noted that, “We believe this form of co-operation is in the best interest of Nigerians. This collaboration is very necessary for us to get out of this forex crisis.”
Speaking earlier, the chairman of the EFCC, Ola Olukoyede said, Forex malpractices and crisis are injurious to any economy adding that the role virtual traders are playing in destroying the Nigerian economy through their activities needs to be checked.
He described the SEC as critical in the area of regulatory compliance stating that the commission is ready to use the instrumentality of the commission to stimulate the economy.
Agama stated that, as the apex regulator of the capital market, the SEC is ready to cooperate with the EFCC in order to achieve the national objective of making sure that illegality is not allowed to thrive.
He said, “this is a testament to the relationship we have and the value you place on the SEC and the best interest of Nigeria. We believe this will be the beginning of greater things to come. My desire is for us to strengthen the existing Memorandum of Understanding we have and ensure it is more effective in dealing with current issues.”
He noted that, “We believe this form of co-operation is in the best interest of Nigerians. This collaboration is very necessary for us to get out of this forex crisis.”
Speaking earlier, the chairman of the EFCC, Ola Olukoyede said, Forex malpractices and crisis are injurious to any economy adding that the role virtual traders are playing in destroying the Nigerian economy through their activities needs to be checked.
