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A  PRESENTATION TO 2016 Q2 CAPITAL MARKET COMMITTEE MEETING A  PRESENTATION TO 2016 Q2 CAPITAL MARKET COMMITTEE MEETING

A PRESENTATION TO 2016 Q2 CAPITAL MARKET COMMITTEE MEETING - PowerPoint Presentation

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A PRESENTATION TO 2016 Q2 CAPITAL MARKET COMMITTEE MEETING - PPT Presentation

BY MD SULEYMAN DIRECTOR FSS2020 FSS2020 Transformational Programs and Initiatives Updates Outline FSS2020 Vision Mission and Strategic Objectives Initiatives that Support FM Activities ID: 557771

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Slide1

A PRESENTATION TO 2016 Q2 CAPITAL MARKET COMMITTEE MEETING (CMC) BY:M.D. SULEYMANDIRECTOR FSS2020

FSS2020 Transformational Programs and Initiatives - UpdatesSlide2

OutlineFSS2020: Vision, Mission and Strategic ObjectivesInitiatives that Support FM ActivitiesFSS2020 Half Year Update of ActivitiesPropose Bills to deepen

Financial

System

FSS2020 Strategic Alignment with SECMeasures and Enablers that support CAMMPOpportunities for Improve Collaboration Across SectorsNext Steps

Slide

2

Slide3

FSS2020 Vision, Mission and Strategic ObjectivesVision: By 2020, to be the safest and most diversified financial system among emerging market, supporting the real economyMission: To drive rapid and sustainable economic growth primarily in Nigeria and Africa.

The Strategic Objectives

Strengthen

and deepen the domestic marketEnhance integration with external financial marketsPromote sustainable economic development.

Slide

3

Slide4

Initiatives that Support Financial Market ActivitiesDeepening and diversify products, services and institution to drive the increased participation in FMFacilitate the reduction of operational and transaction costEstablish international competitive market infrastructureEnsure the competitiveness of the financial market product and servicesSupport the integration of FM across West AfricaWork with Government on fiscal and structural policy as a foundation for long term stability of the financial system

Work with the Government to put an incentive structure for large companies to list on NSE

Facilitate the listing of small and medium enterprises

Work with the Government in operationalizing the commodities exchange marketSlide5

FSS2020 HALF YEAR UPDATE OF ACTIVITIESS/NOACTIVITIESSTATUS

1.

Capacity Building Program across the industry to support the strategy implementation plan

DONE2.

Improve Engagement with FSS2020 implementing institutions to deepen collaboration

ON-GOING

3.

FSS2020 support for promotion of factoring trade finance solution to African Trade

ON-GOING

4.

Proposal

for new and review of existing financial system enabling laws to strengthen the financial sectorON-GOING5.Development of Strategy Implementation Plan and Validation of Structure of the Secretariat AWAITING APPROVAL6.Commencement of strategy implementation roadmap to enhance service delivery and track performance across sectors COMMENCED7.Conducted MSME Survey for the development of a Community-Based Credit Model to identify value chain activity for national adoptionWORK-IN PROGRESS

Slide

5

Slide6

Proposed Bills to Deepen Financial System Formulation and drafting of a bill on Secured Transactions in Movable Asset for the creation of a National Collateral Registry. Bill submitted to FEC through the FMoJ for onward submission to NASSPayment system management bill approved by FEC

The following bills: Securitization and Asset

B

acked Securities; Warehouse Receipt; Mortgage Institutions and Allied Matters; Mortgage Bank Amendment and SMEDAN are presently being reviewed with other legal teams drawn from all implementing institutions under the FSS2020 PlatformA draft framework for the Nigerian Factoring Bill is being developed in collaboration with other critical stakeholdersOngoing effort to get Presidential Accent to the following bills: NIFC; Financial Ombudsman and Electronic Transaction

Attempt being made to represent to the 8

th

NASS the Alternative Dispute Resolution Commission Bill

6Slide7

FSS2020 STRATEGY ALIGHNMENT WITH SECTransformational ProgramDescriptionProgram support the Objectives

Benefits of the Program

Owner Institution

TP7. Long Term Financing Product DevelopmentLong Term (LT) Financing Product development programme

designed to identify and develop Asset Backed Securities (ABS) products, instruments and securities for long term financing of infrastructures. These include utility, infrastructure

and

sukuk

bonds

and

MBS, securitisation.

Product structured to enable Pension and Insurance funds investmentFM1. Deepen and diversify products, services and institutions to drive the increased participation in FMFM1, FM3, FM4 and P1Deepen and diversify existing products in the marketClose infrastructure financing deficitAttract capital for infrastructure projectsSECTP11. Framework and structure for commoditiesDevelop a framework, appropriate structure and products for commodities, to make Nigeria a point of reference for commodities The passage of the legal framework for warehouse receipts (WRS) and privatisation of the Abuja Commodity Exchange FM9. Work with the government in operationalizing the commodities exchange marketIncreased activity in strategic sectorsA major driver of the economic transformationPrice stability of commodities

Broader Market with the creation of trading instruments for commodities (including spot, forward, WRS, OTC and futures.)

Diversification of the economy

NCX, SEC

Slide

7

Slide8

FSS2020 STRATEGY ALIGHNMENT WITH SECTransformational programDescriptionProgram Support the ObjectivesBenefit of the Program Owner InstitutionTP12. Advocacy & Incentives to

Expand Capital Market Listing

Advocacy to influence fiscal and structural policies for long-term stability of the financial system to drive listing of both large companies and SMEs.

FM6.

Work with the Government on fiscal and structural policy as the foundation for long term stability of the financial system. FM7 and FM8

Increased activity in strategic sectors

A major driver of the economic transformation

Improve

c

ollaboration and coordination SECSlide 8 Slide9

Measures and Enablers that Support the Capital Market Master Plan Penetration of financial services to promote financial inclusionFacilitate the reduction of transaction and operational costs for increased participation in the capital market and ease listing of small and medium enterprises Establish international competitive market through moderation of ratio of domestic to foreign fund in the financial marketEnsure competitiveness of financial market products and services through the establishment of NIFC

Work with Government in operationalization of Commodity Exchange Market

Enablers

Human capital development and attract expertise to NigeriaImprove legal and regulatory frame workDrive active communication, advocacy and public relationsSlide10

Opportunity for Improved Collaboration Across Sectors Ease of collaboration with the key implementing institutions to improve attractiveness of the financial system and impact on the FSS2020 initiatives.Platform for engagement with the financial sector regulatory institutions and NASS for the pursuit of relevant bills that would transform the sector To promote capacity building across the industry as a support base to close identified skill gaps in the financial service industry.

Promote synergy with the key institutions and other critical stakeholders to achieve good mileage in the provision of financial products required to deepen the financial market.

Alignment of FSS2020 initiatives with the Capital Market Master Plan to enhance integration and promote sustainable economic development

. Slide 10 Slide11

NEXT STEPSThe need for high level engagement of all implementing institutions and stakeholders to drive the reform programThe Implementing Institutions to provide regular monthly/quaterly updates for ease of coordination and alignment of initiatives to enhance and promote efficiency in the financial sector The implementing institutions to replicate PMO offices that would report on the FSS2020 initiatives impacting on their institutions

The institutions to nominate technical staff to report on the FSS2020 initiatives and serve as liaison officers

The

need for budgetary provision by implementing institutions to fund the activities of FSS2020 Secretariat11Slide12

NEXT STEPS CONTDThe Secretariat to put in place a Performance reporting process as part of the need to track progress, ensure monitoring and reporting on performance

E

nsure regular and high level quarterly

or bi-annual meeting of stakeholders to review progress on the implementation of strategiesTo collaborate in the pursuit of relevant bills at the NASSImprove collaboration amongst stakeholders to deepen the bond market and the development of derivativesSlide13

13THANK

YOU