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SEC moves to generate interest in market activities

By BusinessNews Staff on July 30, 2014

The Securities and Exchange Commission has said pursuant to its market development mandate under ISA 2007, its enabling law, it plans to send five journalists for intensive training on capital markets at the International Law Institute in the United States.

The commission explained in a statement that the goal was to strengthen interest in reading and writing about the capital markets on the part of professional journalists and “to engender a spillover consequence of such enhanced interest in the wider society.

According to the statement, the journalists are being sponsored by SEC in redemption of their prize winnings in the 2012 and 2013 editions of the SEC Capital Market Essay Competition for Journalists, which was instituted by the commission in 2012.

It said, “Of the five journalists, two were first and second prize winners in the 2012 edition of the competition. They are Iheanyi Nwachukwu of Businessday newspaper and Taofeek Salako of The Nation newspaper, the runner up.

“They are to undergo two weeks and one week of intensive training on the foundations and development of capital markets at ILI respectively.”

The 2013 edition was won by Teslim Shitta-Bey of Business Hallmark newspaper and Patrick Atuanya of Businessday newspaper; they were joint first prize winners, while Sule Abiodun of Businessday newspaper was first runner up.

According to SEC, Shitta-Bey and Atuanya will undergo two weeks of training at ILI while Abiodun will spend a week in the same prestigious institution.

It said, “The third place winners – Abiodun Eromosele of Thisday newspaper (2012) and Chris Ugwu, then of Leadership Newspapers (2013), who were entitled to a week-long training in a leading local institution have since redeemed their prizes by undergoing training on business writing and communication skills at the Financial Institutions Training Centre in Lagos.”

According to SEC, the essay competition is a specific capacity building mechanism for the media industry, which also fosters investor education through interest in reading and writing about the markets among journalists as well as the wider society.

It added, “In line with the objective of widening knowledge of the capital markets among its primary target publics and wider audiences, the competition offers only training and non-pecuniary rewards to winners.

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