USNC says committed to strengthen Nigeria’s capital market framework

US-Nigeria Council for Food Security, Trade and Investment (USNC) says it is committed to the strengthen of the regulatory framework governing Nigeria’s capital markets, in attracting foreign investment, creating new jobs and stimulating economic growth.

Also, the Council urged the Securities and Exchange Commission (SEC) and Oando plc to resolve the ongoing dispute amicably via transparency, due process and full respect for the rule of law.

The Council in a statement notes that its members are committed to strengthening the commercial relations between the United States and Nigeria and recognise the importance strong capital markets play in attracting foreign investment, creating new jobs and stimulating economic growth.

“The US-Nigeria Council for Food Security, Trade and Investment notes the alleged infractions of securities regulations by Oando plc. Oando plc, as a founding member of the Council and as an active and valued participant in the Council’s activities, plays an important role in promoting business and direct investment in Nigeria.

“The Council and its members are committed to strengthening the commercial relations between the United States and Nigeria and recognize the importance that strong capital markets play in attracting foreign investment, creating new jobs and stimulating economic growth.

“As part of this, it is critical that the regulatory framework governing Nigeria’s capital markets remain robust, with due process and fair and equitable treatment for all parties,” it says.

It adds, “The Council has confidence in the regulatory authorities and the Nigerian judicial system, and advocates for this matter to be resolved with transparency, due process and full respect for the rule of law.

“The Council will continue its mission to promote opportunities in Nigeria to US investors and advance commercial partnerships that contribute to economic growth in Nigeria.”