1 week ago
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R-L: Director General, Securities and Exchange Commission, Dr. Emomotimi Agama; Director, Treasury Market Operations, International Finance Corporation (IFC), Tom Ceusters and Senior Financial Sector Specialist, Africa Region, Hadija Kamayo, during a meeting in Abuja, recently.
By Chukwuma Umeorah
The Securities and Exchange Commission (SEC) is set to launch an investor education program targeting State Governments across Nigeria to unlock wealth creation opportunities within the states.
Director General of the SEC, Emomotimi Agama disclosed this during a meeting with a delegation from the World Bank Group and the International Finance Corporation (IFC) in Abuja over the weekend. He said the Commission will work closely with state governments to help them understand the vast opportunities in the capital market, while enhancing their knowledge of financial markets, investment strategies, and regulatory frameworks.
“Imagine setting up factories that will produce goods that can be exported and earning foreign exchange. A lot of Nigerians would be employed and that would lead to wealth creation and economic development. That is why the Commission will continue to emphasise education. It is our responsibility to give this vital knowledge for wealth creation. There are some states in the country that are so rich but nothing is happening there. All of their wealth is in the ground,” Agama explained.
He disclosed that the strategic approach will commence soon with the executive council of a state in northern Nigeria, to speak to them about the opportunities in the capital market. “We will create guides, reports, and policy briefs that explain capital market opportunities for state governments, we will translate complex financial concepts into simple, actionable insights and we will use case studies from Nigerian states that have successfully raised capital through bonds or attracted investments in the capital market.
“The Commission believes strongly that if we go out and speak to these people, get them into understanding exactly the benefits and how it is important, get them to manage their own assets meaningfully well, and harness them for greater economic growth for the states, things will begin to change, it is our responsibility to change the narratives and we will keep at it,” he said.
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