The Securities and Exchange Commission (SEC) announced that banks and other companies raised ₦2.7 trillion from the Nigerian capital market in the first 11 months of 2024. This amount, primarily driven by a banking recapitalization exercise that accounted for ₦1.7 trillion, was sourced through equity, securities, and other financial instruments. SEC Director-General, Dr. Emomotimi Agama, highlighted the success of these initiatives during the 2024 Journalists Academy in Abuja, focusing on leveraging technology for financial inclusion.
Dr. Agama detailed the SEC’s efforts to reposition Nigeria’s capital markets, including establishing specialized departments for fintech, derivatives, municipal bonds, and unclaimed monies. The Commission is also collaborating with the Nigerian Financial Intelligence Unit to address macroeconomic challenges, such as exiting the Financial Action Task Force (FATF) grey list, which is critical for boosting Nigeria’s financial sector credibility and attracting investments.
Looking ahead to 2025, the SEC plans to enhance market transparency, foster innovation through fintech, and support housing initiatives like the Ministry of Finance Incorporated Real Estate Investment Fund. Dr. Agama reaffirmed the SEC’s commitment to implementing its Revised Capital Market Masterplan (2021–2025) and emphasised the media’s role in promoting trust and transparency in the financial sector.
