Don't Miss


Home   >   Market - Finance   >   SEC DG commends partnership between Nigerian capital market and film industry

SEC DG commends partnership between Nigerian capital market and film industry

By on September 25, 2013

The Director General of the Securities and Exchange Commission, SEC, Ms Arunma Oteh, has commended the partnership between the Nigerian film industry and the capital market.

She made the commendation while delivering a goodwill message during the 10th Anniversary of the Abuja International Film Festival.

At the occasion, the SEC DG lauded the Nigerian film industry for its universally recognised vibrancy and accomplishments saying the commission’s partnership with the industry is a unique contribution to the global heritage of financial inclusion.

She added that “Nollywood, through partnership with SEC, has adapted its rich resource of creativity to the cause of expanding financial literacy in our society”.

“Through sights, sounds, lights, pictures and motions, Nigeria is creatively using film to expand awareness and understanding among its citizenry of wealth creation through the capital markets and by appeal to the time honoured virtue of putting something aside for the rainy day”, she noted.

According to Oteh,”the Securities and Exchange Commission, SEC, has a mandate to educate and protect investors in the capital market and devotes resources to developing and regulating a world class capital market that will play its critical role in supplying long-term capital for Nigerians to fund their businesses, create jobs and democratise prosperity”.

She said the commission recognises that this mandate will be effectively discharged if it leverages on the significant reach, followership and traction which Nollywood has among Nigerians.

“Our partnership with Nollywood is fruitful and will be sustained in order to achieve our common objectives. We believe your industry connects in a special way with the ordinary Nigerian who must be protected against unscrupulous operators who run schemes to defraud innocent investors of their hard-earned money”, she noted.

“This particular consideration informed our partnership with Homevida to produce a short film ‘Easy Money’ which informs investors about the activities of such scammers because we believe an informed investor is a protected investor as education is the first line of defence”, she also added.

Oteh further expressed her optimism about the ability of the Nigerian film industry not only to serve as an invaluable national asset that entertain and educate the people but also one that will ultimately boost the nation’s competitiveness through promotion of global best practice and innovation.