Nigeria's Securities and Exchange Commission (SEC) has signed a Memorandum of Understanding with Rwanda's Capital Markets Authority, in an effort to deepen bilateral relations between the two countries' capital market regulators. The agreement is aimed at strengthening collaboration between the regulatory bodies overseeing the markets in both nations.
Mr. Gama of the SEC made this known in Abuja, after a meeting with a delegation from Rwanda's Capital Market Authority. The visiting delegation was led by the authority's Chief Executive Officer, Mr. Romeo Ngaranbe, who held talks with the Nigerian commission ahead of the signing.
According to the terms of the MOU, both parties shall cooperate in areas relating to investor education and capital market development. The focus on these areas is intended to support the growth of the respective markets and improve the understanding of investors in both jurisdictions.
The agreement also provides for the exchange of information on regulatory and market development between the two institutions. This is expected to allow the regulators to share insights on how their markets and rules are evolving, as part of the broader cooperation framework.
Other areas captured in the document include capacity building, training and cooperation between the Securities and Exchange Commission and Rwanda's Capital Markets Authority. The provisions are designed to help both regulators strengthen the skills and capabilities of their personnel.
In addition, the MOU covers enforcement and supervisory matters of mutual interest to the two regulators. Through the agreement, both the SEC and Rwanda's Capital Markets Authority are looking to deepen collaboration across their capital markets and reinforce ties between the two countries.