Nigeria Council for Food Security, Trade & Investment wants the Securities & Exchange Commission (SEC) to exercise restraint in its handling of the Oando matter and follow due process.
The council which promotes opportunities in Nigeria to US investors and advances commercial partnerships which contributes to economic growth of Nigeria said in a statement that SEC should sheath its sword in its current feud with Oando.
“Oando PLC, as a founding member of the Council and as an active and valued participant in the Council’s activities, plays an important role in promoting business and direct investment in Nigeria,” the council said.
Reiterating its commitment to strengthening the commercial relations between the United States and Nigeria,the council said it “recognizes the importance that strong capital markets play in attracting foreign investment, creating new jobs and stimulating economic growth.”
This, according to it, underlines the fact that if a regulatory body for the capital market is perceived to be stifling the market it will have a detrimental effect on the ease of doing business, business growth and sustenance, deter new business and international investment, all of which will eventually translate to economic decline.
The USNC further challenged the regulatory body to discharge its duties with due process and fair equitable treatment for all parties.