The Securities and Exchange Commission (SEC) has highlighted the critical need for a robust, inclusive, and technology-driven capital market to secure Nigeria’s future economic stability. Speaking at the Institute of Capital Market Registrars (ICMR) annual conference in Lagos, SEC Director-General Dr. Emomotimi Agama underscored the strategic role of the capital market in fostering wealth creation and supporting the Nigerian economy amidst global uncertainties.
Dr. Agama’s keynote address, titled “Enhancing Financial Stability in the Nigerian Economy: Strategic Role of the Capital Market in Wealth Creation,” emphasized the impact of a strong capital market on Nigeria’s resilience to challenges such as inflation, fluctuating oil prices, and currency devaluation. He noted that, as one of Africa’s largest economies, Nigeria relies on its capital market as the backbone of a thriving economic environment that encourages investment and growth.
“A stable financial system is essential for enabling businesses, investors, and Nigerian citizens to plan for the future with confidence,” Dr. Agama remarked. He outlined plans by the SEC to strengthen the regulatory framework for venture capital and private equity, which are key to empowering the entrepreneurial ecosystem and stimulating investment in emerging sectors. By enhancing the appeal and operational efficiency of these sectors, the SEC aims to attract both local and international capital to drive Nigeria’s economic growth.
According to Agama, channeling domestic savings into local investments is a core strategy for creating a self-reliant and resilient economy. “When Nigerians invest locally, they are investing in the nation’s future,” he said, emphasizing that a well-regulated capital market channels domestic savings into projects that build infrastructure, support businesses, and create job opportunities. This approach not only drives economic activity but also promotes financial inclusion.
In addition to strengthening regulatory frameworks, Dr. Agama called for the integration of modern technology within Nigeria’s capital markets to build a more accessible and efficient financial system. Recognizing Nigeria’s young and tech-savvy population, he explained that the SEC is committed to fostering financial inclusion through digital innovation. This includes establishing “regulatory sandboxes” to assess and register fintech companies, and recently, SEC granted preliminary approvals to two firms, with more under review.
Agama urged stakeholders across sectors to collaborate in developing a capital market that promotes economic stability, generates wealth, and provides opportunities for all Nigerians. He concluded, “With a forward-looking approach and commitment to modernization, Nigeria’s capital market can become a powerful engine for sustainable growth and development.”
