SEC Nigeria Commits to Enhancing Market Transparency and Investor Confidence

SEC Nigeria Unveils Priorities for 2025

“In terms of equity rights and public issues within the capital market, the figure is closer to 2.3 trillion to 2.7...”

The Securities and Exchange Commission (SEC) Nigeria has outlined its priorities for 2025, focusing on market transparency, investor confidence, and financial inclusion.

The Securities and Exchange Commission (SEC) has announced that banks and other companies have raised a whopping N2.7 trillion from the capital market. This impressive figure includes equity capital, but excludes funds raised by fund managers in the market.

According to the SEC, a significant chunk of this amount, approximately N1.7 trillion, was raised by banks as part of their recapitalization efforts. This information was revealed by Dr. Emomotimi Agama, the SEC's director-general, during the commission's 2024 journalists academy.

The theme of the academy, “Fintech: Leveraging Technology to Drive Capital Market Participation,” highlights the importance of technology in driving growth in the capital market. Dr. Agama emphasized the significance of the event in fostering transparency, building confidence, and increasing awareness in Nigeria's capital market.

“In terms of equity rights and public issues within the capital market, the figure is closer to 2.3 trillion to 2.7 trillion. This excludes amounts raised or refinanced by fund managers and other funds generated during the year,” said the executive commissioner, operations, at SEC, Bola Ajomale.

“So far, we have reached 2.7 trillion, and we are progressing steadily,” he added.

Dr. Emomotimi Agama, the Director-General of the Securities and Exchange Commission (SEC), has underscored the importance of the SEC's collaboration with the Nigerian Financial Intelligence Unit (NFIU). This partnership aims to facilitate Nigeria's removal from the Financial Action Task Force (FATF) grey list. Achieving this goal is crucial for bolstering Nigeria's financial sector and safeguarding its international financial reputation.

The SEC has also made significant strides in implementing reforms under the Presidential Enabling Business Environment Council (PEBEC). Notably, the SEC is one of 11 Nigerian government agencies that have achieved 100% implementation of recommended reforms. These reforms are designed to enhance service delivery, promote transparency, and attract domestic and foreign investments, thereby fostering a more conducive business environment.

Dr. Emomotimi Agama, the Director-General of the Securities and Exchange Commission (SEC), has highlighted significant improvements in Nigeria's macroeconomic indicators. Since the current SEC leadership took office, the organization has undergone substantial reforms to enhance its operations.

Key Reforms and Initiatives

° Establishment of specialized departments to improve efficiency and effectiveness

° Strengthened regulations to ensure a stable and secure investment environment

° Registration of capital market operators to promote transparency and accountability

These reforms have enabled the SEC to onboard FinTech companies through its Regulatory Incubation Programs (RIP and ARIP), fostering innovation and growth in the financial sector.

In another significant development, the SEC has approved the Ministry of Finance Incorporated Real Estate Investment Fund. This fund aims to support affordable mortgage financing, aligning with the federal government's One Million Homes Initiative. By addressing Nigeria's housing deficit, this initiative is expected to have a positive impact on the country's economic growth and development.

Dr. Emomotimi Agama, the Director-General of the Securities and Exchange Commission (SEC), has reaffirmed the SEC's dedication to implementing its Revised Capital Market Masterplan (2021-2025). This comprehensive plan prioritizes stakeholder engagement, awareness creation, capacity building, and the development of regulatory frameworks for innovative financial products.

As the SEC looks ahead to 2025, Dr. Agama has outlined three key priorities. Firstly, the SEC aims to enhance market transparency and investor confidence. Secondly, it seeks to leverage financial technology to foster inclusion and innovation. Lastly, the SEC plans to strengthen collaborations with both domestic and international stakeholders to ensure financial stability.

By addressing critical regulatory challenges and promoting innovation, the SEC is committed to positioning Nigeria's capital market as a benchmark for excellence and a key driver of economic growth. This vision is aligned with the SEC's mission to regulate and develop the Nigerian capital market.