SEC DG Urges Capital Market Stakeholders to Drive Nigeria’s Economic Growth
By Patience Ikpeme
The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has called on stockbrokers and other capital market stakeholders to harness the full potential of the market to propel Nigeria towards a prosperous and sustainable future.
Speaking at the 28th annual conference of the Chartered Institute of Stockbrokers (CIS), themed “Capital Market as a Catalyst for the $1.0trn Economy,” Agama emphasized the crucial role of the capital market in driving economic growth, wealth creation, and infrastructure development.
He highlighted the importance of leveraging the capital market to channel resources into productive sectors, thereby stimulating industrial growth and technological advancement. The SEC DG noted that the conference’s focus on achieving a $1 trillion economy underscores the pivotal role of financial markets in national development.
Agama called for a comprehensive review of sectors, investment strategies, market regulations, and technological innovations to identify and address barriers hindering optimal capital market performance, such as regulatory challenges, market liquidity, and investor confidence. He underscored the significance of embracing fintech solutions, blockchain, and digital assets to enhance market efficiency and transparency.
The SEC DG commended the CIS for its efforts in promoting knowledge sharing and professional development through the conference. He expressed appreciation for the choice of Ibadan as the conference venue, highlighting the region’s economic significance and rich cultural heritage.
Agama further emphasized the importance of practical learning experiences, such as factory visits, in fostering industry engagement and understanding. He assured the attendees of the SEC’s continued support for the capital market and encouraged active participation in the conference.
The SEC DG expressed confidence that the conference would yield valuable insights and strategies to propel the capital market and economy forward. He urged all stakeholders to work together to unlock the full potential of the Nigerian capital market.
In his address, CIS President and Chairman of the Governing Council, Mr. Oluropo Dada, reiterated the importance of the capital market in mobilizing capital, creating wealth, and driving economic growth. He emphasized the need to leverage the capital market to achieve the government’s goal of a $1 trillion economy.
Dada highlighted the role of the capital market in democratizing assets and providing opportunities for individuals, corporates, and governments to participate in wealth creation and distribution. He emphasized the need to carefully study the experiences of developed countries to effectively harness the potential of the capital market.
