Shareholders, under the aegis of Proactive Shareholders Association of Nigeria (PSAN) have enjoined the Director General of the Securities Exchange Commission(SEC), Mr. Mounir Gwarzo, to  reconstitute some of the subcommittees in the market and include representatives of the minority shareholders.

They said the SEC boss should set up a monthly feedback  committee that will also involve representatives of all market stakeholders. 

The Chairman of PSAN, Mr. Oderinde Taiwo, said in statement that "investors in Nigeria are optimistic about the newly confirmed DG SEC, Gwarzo that he will perform better than his predecessor because of his background and the number of years he has been operating in the system. However, he needs to reconstitute all the subcommittees of the market and make sure he involve  minority shareholders
representatives on these committees. Also, he should set up a monthly feedback committee that will involve  the representatives of all the capital market stakeholders." 

According to PSAN, Gwarzo should also improve on the Shareholders Academy set up by his predecessor because it is an informal setting for the education of minority shareholders.

"In line with with the vision of the incoming administration,  he should have zero tolerance for corruption," Taiwo declared.

Gwarzo, who appointed acting DG in January  of this year,  was recently confirmed by President Goodluck Jonathan. And in line with the provisions of the Investment  and Securities Act(ISA), the Senate has also confirmed Gwarzo as the DG of the  apex regulator for the nation's capital market.

Meanwhile, trading at the stock market resumed for the week on a positive note as last week's bullish momentum was sustained. The Nigerian Stock Exchange (NSE) All-Share Index rose  by 0.9 per to close at  34,781.46. Similarly, market capitalisation added N120.23 billion to close atN11.82 trillion.

Market analysts said  gains by key banking and oil/gas  stocks contributed the most to the growth recorded Monday.

Skye Bank closed on full bid yesterday, emerging  as the top gainer with a 9.68 per cent. Forte Oil Plc appreciated by 9.1 per cent, while NEM Insurance Plc, Presco Plc and Diamond Bank chalked up 8.8'per cent, 8.5 per cent and  6.4 per cent respectively.