Innovative Instruments Key To Development – SEC

The director-general of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama has posited that innovative financial instruments have the power to unlock new opportunities, foster growth, and address pressing socio-economic challenges.

In an interview, Agama said that achieving sustainable development through the revolutionisation of the Nigerian capital market hinges on fostering innovative investment mechanisms adding that without such advancements, realising substantial economic growth and progress would be a formidable challenge.

He explained, “from green bonds to social impact investing, from derivatives to exchange-traded funds, both from the conventional and the non-interest prisms, the spectrum of financial instruments available to investors is vast and diverse.

“The world of financial instruments is constantly evolving, presenting both opportunities and challenges, and Nigeria must seize the opportunities presented by these advancements.

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“Embracing technology, therefore, is paramount. Fintech solutions offer increased access to the capital market, streamlined transactions and enhanced transparency. By fostering a regulatory environment that encourages responsible adoption of these technologies, we can unlock their full potential and indeed, the potential of our nation.”

Agama urged stakeholders in the capital market not to only embrace innovation but also ensure that it is guided by the principles of sustainability, inclusivity, and ethical conduct.

“We must strive to create a capital market that not only generates wealth but also fosters social and environmental responsibility. As we embrace innovation, it is imperative that we do so responsibly.

In this regard, as the regulatory authority entrusted with safeguarding the integrity and stability of the capital market, it is incumbent upon us to foster an environment that nurtures innovation while upholding the highest standards of transparency, integrity, and investor protection” he stated.

The SEC boss urged stakeholders to remain steadfast in their commitment to revolutionise the Nigerian capital market by embracing innovation and harnessing its power for good to pave the way for a more prosperous, inclusive, and sustainable future for all.

“Together, let us change the face of the Nigerian capital market for the better, and unlock its full potential as a catalyst for sustainable development. There is no gainsaying the fact that the agility and new value propositions brought about by technology applications help us to work smarter rather than harder and produce faster outcomes.

“Nonetheless, these can never be substituted with the benefits of entrenched market integrity, efficiency and protection of investors which the Commission, and indeed all participants in the Nigerian capital market, commit to uphold.”

He added that “collaboration is key to driving meaningful change. We must work hand in hand with market participants, investors, issuers, and other stakeholders to identify opportunities, address challenges, and co-create solutions that promote sustainable development.”