Caption: Dr. Emomotimi Agama (left), President, Chartered Institute of Stockbrokers (SEC) Nigeria, in a warm handshake with President Chartered Institute of Bankers of Nigeria, Prof Deji Olanrewaju (right), and Oluropo Dada, President, CIS, during the 28th Annual Chartered Institute of Stockbrokers Conference in Ibadan, Thursday.
The Director-General of Nigeria’s Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, on Thursday in Ibadan, Oyo State, challenged stockbrokers and other stakeholders to help unlock the full potentials of the country’s capital market for a prosperous and sustainable future.
Agama, who spoke at the 28th annual conference of the Chartered Institute of Stockbrokers (CIS), themed: “Capital Market as a Catalyst for the $1.0trn Economy,” said the focus on leveraging the capital market to achieve the ambitious goal of a $1.0 trillion economy underscores the pivotal role the financial markets play in national development.
He said the critical review of sectors, investment strategies, market regulations, and technological innovations that the conference promises will undoubtedly provide a roadmap for the capital market’s contribution to Nigeria’s economic transformation.
According to the SEC DG, the capital market is not only a platform for raising funds but also a vital engine for wealth creation, economic diversification, and infrastructure development adding that by effectively channeling resources into productive sectors, it can stimulate industrial growth and technological advancement.
The conference, he continued, “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 $1.0 trillion 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.
The SEC DG commended the CIS for its relentless efforts in promoting knowledge sharing and professional development through the conference saying their contributions are crucial in equipping market players with the necessary skills and insights to drive the economy forward.
He commended the hosting of the conference in Oyo State, a hub for some of Nigeria’s leading blue-chip companies which he said not only highlights the economic significance of the region but also its rich cultural heritage, offering participants a well-rounded experience.
According to him, “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,” he stressed.
Agama expressed confidence that the conference will yield significant insights and strategies that will propel the capital market and economy forward, enjoining all to harness the full potentials to achieve a prosperous and sustainable future.
Speaking earlier, President and Chairman of the Governing Council of the institute, Oluropo Dada said the theme was deliberately crafted to serve as the Institute’s contribution towards achieving one of the Federal Government of Nigeria’s cardinal objectives l, which is growing the GDP of Nigeria to $1trn as quickly as possible.
Dada said the capital market plays a pivotal role in any nation’s economy, especially as government and private organisations at various levels harness it to mobilise capital for their broad and varying needs, making people with ideas become entrepreneurs and helping small businesses grow into big companies.
“Likewise, it is an avenue to democratise assets through wealth creation and distribution, since individuals corporates and even governments can participate with the fortune-making and distribution, as they provide opportunities to save and invest for our futures
“It is our conviction that after carefully studying the paths taken by the developed countries of the world, that achieving a trillion dollar economy necessarily requires a comprehensive exploration of the capital market’s role as a potent and proven engine of growth.”
