The Securities and Exchange Commission has described commodities exchanges as critical to enabling an environment that will create jobs and facilitate economic development. The Director-General, SEC, Mr Lamido Yuguda, said this at a stakeholders’ sensitisation workshop on commodities standards organised in collaboration with the Standards Organisation of Nigeria in Kano on Thursday, according to a statement. According to Yuguda, commodities exchanges have the potential to efficiently link commodities to industries, thereby creating jobs, improving living standards and unlocking the economic potentials of farming communities, among others. The initial stage of the development process would concentrate on the delivery of standards for agricultural commodities. According to him, countries with older and better commodity exchanges have historically gained an economic advantage over others.

Source: Punch November 19, 2021 18:00 UTC