EFCC, SEC Collaborate On Training in Capital Market Fraud Investigation

ECONOMIC and Financial Crimes Commission (EFCC), and Security and Exchange Commission, (SEC), have strengthened their collaboration with a capacity-building training for select officers of the EFCC in the Lagos Zonal Command.

It was a one-day training tagged “Enlightenment Programme on the Capital Market and the Investigation of Capital Market Complaints” which held at the Conference Room of the EFCC Lagos Zonal Command on, Tuesday, October 12, 2021.

Stephen Falomo, Director, SEC, Lagos Zonal Office, said the training was one of the strategies of the agency to drive the development of the market, while also sharing knowledge with the EFCC to achieve a “ well-regulated market that is dynamic, fair and equitable.”

Falomo who noted that both the SEC and the EFCC had been enjoying a mutually beneficial relationship for almost two decades, said, “The EFCC is responsible for the investigation and prosecution of financial crimes, and a large chunk of complaints and infractions in the capital market can be deemed to be financial crimes.

“It is, therefore, imperative that the SEC support the EFCC with up-to-date knowledge of the intricate workings of the capital market and some useful information on the investigations of financial crimes emanating from players in the capital market space.”

In his remarks, the EFCC Zonal Commander, Lagos, Ahmed Ghali, recalled the existing relationship between both agencies, and also charged the participants to take maximum advantage of the training.

Halo said, “I assure you that the facilitators will throw light on a number of capital market matters, where you may be having challenges.”

The Head of Operations, SEC, Lagos Zonal Office, Hafsat O. Rufai, presented a paper entitled “ Investing In The Nigerian Capital Market: What You Need To Know”, while the Head of Department, Market Development, SEC, Head Office, Nestor Ikeagu, delivered another paper entitled “Investigation of Capital Market Complaints.