ABUJA, Nigeria (VOICE OF NAIJA)- The Director-General of the Securities and Exchange Commission, Dr. Emomotimi Agama, has urged stockbrokers and other capital market participants to fully leverage the potential of the capital market to build a prosperous and sustainable future.
Speaking at the 28th annual conference of the Chartered Institute of Stockbrokers, themed “Capital Market as a Catalyst for the $1tn Economy,” held in Ibadan, Oyo State, on Thursday, Agama emphasized that the capital market serves as more than just a fundraising platform.
He described it as a crucial driver for wealth creation, economic diversification, and infrastructure development.
Dr. Agama noted that by channeling resources into productive sectors, the capital market has the capacity to fuel industrial growth and foster technological advancement.
“This conference provides an opportunity to identify and address key barriers that have hindered optimal capital market performance, such as regulatory challenges, market liquidity, and investor confidence. Additionally, the role of technological innovations in the market cannot be overstated. Embracing fintech solutions, blockchain, and digital assets will further enhance market efficiency and transparency.
“The success of the $1tn economy vision largely depends on the collective efforts of all stakeholders in the financial ecosystem. By fostering collaboration between regulators, market operators, and policymakers, we can create a more resilient and inclusive market,” he stated.
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The SEC Director-General also praised the Chartered Institute of Stockbrokers for its ongoing dedication to knowledge sharing and professional development through its annual conference, noting that these efforts are essential in equipping market players with the skills and insights needed to advance the economy.
He lauded the choice of Oyo State as the conference venue, calling it a fitting location given its role as a hub for some of Nigeria’s prominent blue-chip companies.
Hosting the event there, he said, underscores the region’s economic importance while celebrating its rich cultural heritage, providing attendees with a truly enriching experience.
He said, “The planned factory visits add a practical dimension to the conference, allowing brokers and stakeholders to witness firsthand the operations of notable companies. This initiative will foster deeper industry engagement and understanding.
“As the regulator of the capital market, the SEC fully supports this conference. We recognise its importance in shaping the future of our capital market and are committed to contributing actively. We encourage our members to participate and derive maximum benefit from the insights shared. I look forward to the rich discussions and collaborations that this conference will undoubtedly foster. Together, we can unlock the full potential of the Nigerian capital market for sustained economic prosperity.”
In his address, the President and Chairman of the Governing Council of the Chartered Institute of Stockbrokers, Mr. Oluropo Dada, stated that the conference theme was intentionally chosen to align with one of the Federal Government’s key goals expanding Nigeria’s GDP to $1 trillion.
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Dada highlighted the capital market’s critical role in a nation’s economic development, emphasizing that it enables both government and private entities to raise the capital needed for diverse initiatives.
By fostering entrepreneurship and supporting the growth of small businesses into larger enterprises, the capital market, he said, serves as a vital engine for economic progress.
“Likewise, it is an avenue to democratise assets through wealth creation and distribution, since individuals, corporates, and even governments can participate in the fortune-making and distribution, as they provide opportunities to save and invest for our future.
“It is our conviction that after carefully studying the paths taken by the developed countries of the world, achieving a trillion dollar economy necessarily requires a comprehensive exploration of the capital market’s role as a potent and proven engine of growth.”