The Africa Middle East Regional Committee (AMERC) has re-elected Mr Mounir Gwarzo, the Director-General, Securities and Exchange Commission (SEC), as Chairman of the International Organisation of Securities Commissions (IOSCO). This is contained in a statement by the Head of Corporate Affairs of the commission, Mr Naif Abdusallam, on Wednesday in Abuja.
According to the statement, Gwarzo will serve as the Chairman of AMERC for two years. It said that AMERC comprised securities regulators who were IOSCO members within the Middle East and North Africa as well as sub-Saharan African regions.
It explained that Gwarzo’s re-election was a testament to Nigeria’s growing influence and improved image in the international community. “ It is also a strong indication of the overwhelming support the Nigeria SEC boss enjoys among peer regulators following a very successful first tenure.
It said “by this re-election, Gwarzo is to serve on the Executive Committee of the highest decision making organ of IOSCO for the next two years. The term will commence at the inaugural meeting of the new IOSCO Board during the annual meeting in 2016 in Lima, Peru, which holds later in the year. His completed tenure gives a lot to cheer, especially for less-developed members of the region, and also gives a lot of room for optimism going into new tenure”.
In February 2015, Gwarzo was elected Chairman of AMERC during the board’s 34th annual meeting in Muscat, Oman to complete the outstanding term of his predecessor.
Upon his election, Gwarzo had outlined to members his agenda for the regional committee. He pledged to focus on advancing issues that improved voice, visibility and inclusiveness for African/Middle Eastern markets while working towards more cooperation, especially to boost capacity building and cooperation.
The statement noted the aim of the agenda was to tackle three major challenges facing the frontier and emerging markets within the AMERC region. It named the challenges as dearth of capacity, inadequate visibility and poor level of integration.
