Regulatory Alerts2021-06-16
SEC Nigeria Takes Over Leadership of the West Africa Securities Regulators Association (WASRA)
The Securities and Exchange Commission (SEC) Nigeria has appointed Director General Lamido Yuguda as the new two-year Chairman of the West Africa Securities Regulators Association (WASRA). This leadership transition prioritizes sub-regional capital market integration and the operationalization of existing regulations to ensure fair, transparent activities for market operators. The handover was formalized during a virtual Executive Council meeting attended by all member regulatory CEOs, building upon the association's 2015 framework to standardize cross-border capital market operations across West Africa.
Mr. Lamido Yuguda, the Director General of the Securities and Exchange Commission, Nigeria took over the mantle of leadership of the West African Securities Regulators Association (WASRA) as Chairman, on Monday, 14th June, 2021. Mr. Yuguda will lead the body of West African securities regulators for a two-year period having succeeded Reverend Daniel Ogbarmey Tetteh, Director-General of the Securities and Exchange Commission Ghana. The handover ceremony took place at a virtual meeting of the Executive Council of WASRA, which was attended by all CEOs of Member Regulatory Authorities. In his acceptance speech, Mr. Yuguda, thanked the out-going Chairman for the milestones accomplished by the Association over the last two and a half years. He also expressed his commitment towards attaining the core values and vision of WASRA. According to Mr. Yuguda “integration of the capital market in the sub-region will be the focus of this leadership as we look to operationalise WASRA regulations in kick-starting the activities of capital market operators across the sub-region in a fair and transparent manner.” WASRA was established in 2015, as an association of capital market regulatory institutions comprising of Nigeria, Ghana and Conseil Regional de L’Epargne Publique et des Marches Financiers (CREPMF) made up of: Mauritania, Senegal, Mali, Guinea Bissau, Cote d’Ivoire, Togo, Burkina Faso, Benin Republic and Niger, to foster market integration in the West African sub-region.