The Executive Director of Riscovery Insurance Brokerage, Dr Dan Seddoh, has taken on regulators of financial institutions for leaving customers high and dry when government initiated its Domestic Debt Exchange Programme.
According to Dr Seddoh, regulators need to “up their game” in protecting customers since they provide the money used for investment.
He said this at the Graphic Business/ Stanbic Bank Breakfast Meeting which was themed “Domestic Debt Exchange: Lessons and Implications for how you invest” on Tuesday.
“When you are speaking from the customers’ perspective, the regulators really do not protect customers and the regulators need to be told in the face that they need to up their game.
“It is the customers that come with the money that is invested and it is not the government that needs to be protected,” he said on Tuesday.
The Executive Director also indicated that the government is “too big” to protect, thus, regulators siding with government will only “create more problems.”
“We need to get the regulators to appreciate the fact that they need the investors so they should work with the investors rather than the government,” he added.
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