The Securities and Exchange Commission, SEC, and operators in the capital market have appointed Accenture, a leading consulting and management firm, the project manager for the nation’s bourse dematerialisation.
Accenture’s mandate also covers the direct payment to clients and mass trading being implemented in the market.
A management source, who pleaded anonymity,while speaking in Lagos explained that the firm would act as project manager for the full dematerialisation of the market.
Dematerialisation is the process of replacing paper certificates with electronic records at the Central Securities Clearing System.
The source said the appointment of Accenture by stakeholders in the market was to guide the process and ensure smooth running of the various initiatives in the market.