The Economic and Financial Crimes Commission (EFCC) has signed an M.O.U with The Nigerian Stock Exchange (NSE) on Friday, October 4, 2013 Under the terms of the MOU, the NSE and EFCC have agreed to work together on sanitizing the Nigerian Securities Market and maintaining a fair and orderly market. According to Oscar Oyema, the NSE CEO;
“This collaboration paves the way for thorough investigations, effective preservation of documents and records, timely prosecution and regular updates in respect of capital market related offences. We also expect enhanced synergy from this formal relationship and look forward to producing results both in the short and long term in areas such as: elimination of Nigeria from the FATF list, capacity building and training of personnel, effective surveillance, timely and efficient information sharing and the consistent conduct of nationwide sensitisation fora to educate stakeholders on capital market offences”,
Lets hope this makes errant traders sit up and become more transparent.