Forex scarcity: SEC, NAIC to deepen commodities trading

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The Securities and Exchange Commission on Sunday expressed its readiness to partner with the Nigerian Agricultural Insurance Corporation to deepen the commodities trading ecosystem and boost forex earnings.

He stated, “A committee comprising of various stakeholders including the SON was set up to drive the implementation of the report. One of the recommendations in the report identified the development of grading and standardisation system in line with international best practice. We are therefore willing to also work with NAIC to grow the commodities sector.”

Yuguda added, “The SEC has been doing a lot of things in the commodities sector and the role of NAIC in this sector cannot be over emphasised and based on that, we would like to explore areas of collaboration to see how far we can help grow that sector together.” In her remarks, the Managing Director, NAIC, Mrs Folashade Joseph, stated that her organisation was willing and available for any initiative that would add value to the population and the nation’s economy.

She said, “It is a privilege to do this; as things begin to evolve, we try to push forward what will add value to the population. Our focus is on commodities. There are various evolving issues during the course of our business as insurers because we manage across the value chain.”All rights reserved.

 

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Lol. 99% of Nigerians are worried about naira scarcity O They couldn't be bothered by forex right now.

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