The FSC and the SEC say they both identify, through this MoU, the importance of regional co-operation to develop and maintain a “sound” domestic financial services industry in Mauritius and Nigeria.
The agreement is believed to enhance the position of increasing international activity in the supply of financial services and the matching need for joint co-operation and sharing of information in the administration, enforcement of laws, regulations and rules in the financial services industry of the two nations.
FSC Chief Executive, Clairette Ah-Hen stated, “The signature of this MoU with the SEC of Nigeria reinforces the FSC’s
commitment to ensure effective cross border cooperation, information sharing and capacity building with its African counterparts. The FSC has collaborated closely in the past with members of the AMERC Sub-Committee of the IOSCO and we wish this collaboration to be further strengthened following this MoU,”she said.
The Financial Services Commission, Mauritius (FSC) is the national regulator for the financial services sector apart from the banking sector the commission is governed by legal framework in the country, which comprises of the Financial Services Act, the Securities Act.
Similar treaties have been signed with Kenya, Seychelles and more recently India by the government of Mauritius.