By Abubakar Yunusa
Banks and companies raised over N2.7 trillion from Nigeria’s capital market in 2024, the Securities and Exchange Commission (SEC) has disclosed, with N1.7 trillion of the total coming from a banking recapitalisation exercise.
SEC Director-General Dr. Emomotimi Agama shared the figures during the 2024 Journalists Academy, themed “Fintech: Leveraging Technology to Drive Capital Market Participation.”
He outlined the Commission’s achievements and future plans to bolster Nigeria’s capital markets and financial sector.
Agama emphasized that the SEC has implemented significant reforms, including establishing specialised departments to address emerging challenges in areas such as fintech, derivatives, municipal bonds, and unclaimed dividends.
He also noted ongoing efforts to regulate crypto-assets and improve service delivery.
“We have made significant progress in registering Capital Market Operators (CMOs) and on-boarding fintech companies through our Regulatory Incubation Programmes,” Agama said, adding that the recapitalisation exercise has enhanced financial stability and investor confidence.
The SEC has also worked closely with the Nigerian Financial Intelligence Unit (NFIU) to ensure Nigeria’s removal from the Financial Action Task Force (FATF) grey list, a move crucial for maintaining international financial credibility and attracting investors.
The DG unveiled SEC’s 2025 outlook, with priorities including improving market transparency, leveraging technology to drive inclusion, and strengthening collaborations to enhance financial stability.
Agama reaffirmed the Commission’s commitment to implementing the Revised Capital Market Masterplan (2021-2025).
Additionally, Agama announced SEC’s approval of the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), which aims to address Nigeria’s housing deficit and align with the federal government’s One Million Homes Initiative.
Recognising the media’s role in building public trust in the capital market, Agama called for accurate reporting to enhance transparency and stakeholder confidence.
