Agama Confirmed as SEC Director-General
By Patience Ikpeme
The Senate yesterday confirmed the appointment of Dr. Emomotimi Agama as the Director-General of the Securities and Exchange Commission (SEC).
Capital market stakeholders hailed his appointment as a vital step towards achieving the Tinubu administration’s ambitious goal of a $1 trillion economy.
Dr. Wahab Balogun of Ambosit Capital Managers was among the first to commend the appointment, praising Agama’s extensive experience and profound understanding of the capital market. “His wealth of experience and deep understanding of the capital market will be invaluable in driving the growth and development of the Nigerian capital market,” Balogun said.
He further emphasized that Agama’s expertise would be critical in implementing policies to attract investment, stimulate economic growth, and create jobs.
Alongside Agama, the Senate also confirmed Frana Chukwuogor as Executive Commissioner (Legal and Enforcement), Mr. Bola Ajomale as Executive Commissioner (Operations), and Mrs. Samiya Usman as Executive Commissioner (Corporate Services).
These confirmations followed the presentation of the report by Senator Osita Izunaso, Chair of the Committee on Capital Markets, who affirmed that all nominees were eminently qualified and had passed all necessary security checks.
Senator Izunaso highlighted that the nominees were well-prepared to meet the expectations set by President Bola Tinubu. “They were eminently qualified for the positions. They passed all security checks and answered relevant questions during the screening,” he stated.
The Senate subsequently voted to confirm the appointments, with Deputy Senate President Barau Jibrin urging the new appointees to diligently carry out their roles for the nation’s benefit.
President Tinubu had initially appointed Agama on April 19, 2024, to succeed Lamido Yuguda. In his post-confirmation remarks, Agama expressed his commitment to accelerating the development of Nigeria’s capital market, emphasizing that his team was selected to transform and reposition the market to support economic growth.
“We are bringing on board innovation, development. We are going to change the narrative of the Nigerian capital market. We are going to turn it around,” Agama asserted. He highlighted the capital market’s critical role as the economy’s barometer, stressing that a robust capital market is essential for a healthy economy. Agama promised to implement innovative policies and programs designed to create world-class companies and redistribute wealth.
“You must understand that the capital market is actually the barometer of any economy. And without a strong capital market, then, of course, the economy will not do very well. The intention of this management is to make sure that we mainstream the capital market in the Nigerian economy,” Agama said. He assured Nigerians of the new team’s dedication to fulfilling President Tinubu’s vision for economic transformation.
Agama’s confirmation and the appointment of his fellow commissioners are seen as pivotal in driving forward the SEC’s mission. The new leadership team is expected to introduce measures that will not only enhance market confidence but also attract significant domestic and foreign investments, contributing to the broader goal of economic prosperity and stability.
