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Economy

SEC advises on collective investments, mutual funds

SEC advises on collective investments, mutual funds
By Lucy Nwachukwu
Investors
Abuja, Dec. 26, 2018 (NAN) The Securities and Exchange Commission (SEC) has advised retail investors in the capital market to invest in Collective Investment Schemes and Mutual Funds to help reduce risk.
The Acting Director-General of SEC, Ms Mary Uduk, said this in a statement on Wednesday in Abuja.
Uduk said such investments were managed by professionals and they help investors to invest in various asset classes to minimise risk.
She however reiterated the commission’s commitment to protect investors through various initiatives.
She said: “The Commission has put in place a number of initiatives to protect investors as well as boost their confidence.
“These includes the e-dividend mandate Management System, Direct Cash Settlement, we set up a committee on identity management in the Nigerian Capital Market Regularisation of Multiple Subscription and Complaints Management Framework.
“We protect investors through the National Investors Protection Fund (NIPF), Risk Based Supervision and the Complaints Management Framework.
“We want investors to take ownership of their investments; they have to be able to monitor their investments, attend Annual General Meetings as well as read the annual reports sent out to them.”
According to Uduk, the commission is working with other major stakeholders to set up a committee that will look into and proffer solutions to problems around identity management in the Nigerian capital market.
“For instance, to boost the e-dividend mandate and Direct Cash Settlement initiatives, we are engaging the Nigeria Inter-Bank Settlement System (NIBSS) to facilitate identity and account validation to enhance market processes,” she said.
She said the electronic distribution of annual accounts by public companies to shareholders had continued to record tremendous success, as shareholders had accepted the new initiative.
She said the SEC and other stakeholders had continued sensitisation to further enlighten shareholders on the benefits of the initiative.
On the need to grow the market for trading in securities on unlisted public companies, Uduk said the SEC was collaborating with relevant stakeholders to assist public companies yet to register their securities to do so without much difficulty.
The acting director-general also said innovations in financial technology had made possible the potential of using digital tools to make financial services available to a wider range of consumers and enterprises.
She said innovative technology had also promoted financial inclusion and the affordability of financial services in the country.
“A financially inclusive society will provide increased access to finance, especially for women, help support sustainable growth and will create a million more jobs.
“The gains of having a more inclusive financial system are enormous, as it helps broaden financial markets and make policies more effective.
“These initiatives continue to highlight and promote developments and trends in the Nigerian capital market and drive financial inclusion aimed at reducing adult exclusion from financial services,” the statement read in part. (NAN)
LCN/MST
Edited by Muhammad Suleiman Tola

Health

Expert cautions on using mobile phones, computers at night

Expert cautions on using mobile phones, computers at night

NAN-HG-10

Alcohol

By Yashim Katurak

Abuja, March 17, 2017 (NAN) Dr Omale Charles, Managing Director, Fortress Eye Hospital and Medical Centre, Abuja, has advised those who spend long periods of time on their mobile devices at night to always leave room lights on.

Charles gave this advice in an interview with the News Agency of Nigeria (NAN) on Friday in Abuja.

He said this would go a long way to reduce the level of light directed to the eyes which could lead to damage to one’s vision.

The expert was speaking on the sidelines of this year’s World Glaucoma Week (WGW) commemorated from March 12 to March 18, with the theme: “Beat Invisible Glaucoma”.

Charles said those who spent long periods of time on these devices and also computers should ensure they took breaks away from the devices and gadgets in order to protect the eyes from damage caused by excessive exposure to light.

“Working long hours on the computer can affect the eyes and vision. This can trigger a negative reaction to the eyes and cause headache, loss of concentration and ultimately predisposes one to develop Computer Visual Syndrome.

“If this continues on a long term basis, it can lead to permanent damage to the eyes.

“Therefore, one should make efforts to wear protective eye glasses or use a computer screen so that the level of direct light to the eyes is reduced.

“When you work on the computer screen for long periods you should try to take a break from your work once in a while.

“From 20 seconds to about 20 minutes try to look at least 20 feet away and that way you break the continuous exposure of the light to your eyes which can result in damage to the element of vision.”

He also cautioned the public, especially those predisposed to or at risk of developing eye diseases against excessive consumption of alcohol.

Charles said consuming alcohol in excess quantity could affect the nerves of the eyes increasing the chances of damage to one’s vision.

The expert, who described alcohol as a depressant, said the substance once consumed overtime gave a feeling of euphoria and subsequently affected one’s thinking and coordination.

Charles said alcohol could only give such feeling to an individual because it worked through the nerves, adding that any substance that worked using the nerves could affect vision.

“For someone who already has a biological predisposition to glaucoma, taking alcohol or any other substance that can affect your nerves, thereby accelerating damage to the nerve of vision.

“Another thing to consider is the quantity of alcohol consumed by an individual and the level of concentration of this alcohol.

“Drug and substance abuse also has negative effects on the eyes; activities such as direct gaze at the sun can expose one to ultra-violent radiation.

“When moving outdoors, you should wear protective eye shade or a face cap to protect your eyes from this radiation because it can cause external growth within the eyes and can serve as a trigger for vision impairment.”

He listed other activities that could directly affect the eyes to include welding, adding that the iron particles caused direct trauma to the eyes. (NAN)

KRY/MO/MST

Edited by Morayo Omolade/Muhammad Suleiman Tola