The existing collaboration between the Economic and Financial Crimes Commission, EFCC, and the Security and Exchange Commission, SEC, received a boost with capacity-building training for select officers of the Commission in the Lagos Zonal Command.
Speaking during the one-day training tagged “ Enlightenment Programme on the Capital Market and the Investigation of Capital Market Complaints” which held at the Conference Room of the EFCC Lagos Zonal Command on Tuesday, October 12, 2021, Stephen Falomo, Director, SEC, Lagos Zonal Office, said the training was one of the strategies of the agency to drive the development of the market, while also sharing knowledge with the EFCC to achieve a “ well-regulated market that is dynamic, fair and equitable.”
Falomo, who stated that both the SEC and the EFCC had been enjoying a mutually beneficial relationship for almost two decades, added that “The EFCC is responsible for the investigation and prosecution of financial crimes, and a large chunk of complaints and infractions in the capital market can be deemed to be financial crimes.
“It is, therefore, imperative that the SEC support the EFCC with up-to-date knowledge of the intricate workings of the capital market and some useful information on the investigations of financial crimes emanating from players in the capital market space.”
Earlier in his remarks, the EFCC Zonal Commander, Lagos, Ahmed Ghali, had recalled the existing relationship between both agencies, and charged the participants to take maximum advantage of the training.
According to him, “I assure you that the facilitators will throw light on a number of capital market matters, where you may be having challenges.”
The Head of Operations, SEC, Lagos Zonal Office, Hafsat O. Rufai, presented a paper entitled “Investing In The Nigerian Capital Market: What You Need To Know”, while the Head of Department, Market Development, SEC, Head Office, Nestor Ikeagu, delivered another paper entitled “Investigation of Capital Market Complaints”.