Nigeria On Bold Journey To Becoming $1trn Economy – CSCS

The vice chairman of the African and Middle East Depositories Association (AMEDA) and managing director/CEO of Central Securities Clearing System (CSCS) Plc, Haruna Jalo-Waziri, emphasized that Nigeria is on an ambitious journey to grow its economy to a $1 trillion scale.

Jalo-Waziri made this statement during CSCS’s successful hosting of the AMEDA 2025 conference in Nigeria for the first time. The conference, themed ‘Shaping the Future: Financial Market Infrastructures as Catalysts for Transforming Economies’, gathered key financial market infrastructure operators, regulators, policymakers, and leaders from the private sector across Africa and the Middle East to discuss the future of capital markets and the role of financial market infrastructure in economic transformation.

He noted the significance of infrastructure in achieving Nigeria’s goals, stating, “our country is on a bold journey to grow its economy to a $1 trillion economy. This ambition is supported by a capital market that must evolve in scale, sophistication, and inclusiveness.”

Jalo-Waziri further explained that CSCS is proud to support this journey by investing in future-ready infrastructure, enhancing investor confidence, building systemic resilience, and collaborating with innovators throughout the financial services value chain.

The chairman of AMEDA, Abdulla Abdin underscored the critical role of financial market infrastructures in fostering inclusive and innovation-driven economies. He stated, “The theme of the conference reflects our deep awareness of the rapid transformations taking place in the global economy and the role financial market infrastructures play in enabling economies to adopt innovation and achieve inclusive growth.”

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Vice President of Nigeria, Sen. Kashim Shettima, highlighted President Bola Tinubu’s commitment to market reform and economic stability. He noted, “our administration is devoted to strengthening Nigeria’s financial market infrastructures through a careful blend of regulation, reform, capital market development strategies, and robust public-private collaboration. This includes broadening participation in our capital markets, increasing access to finance for micro, small, and medium enterprises (MSMEs) and startups, and financing infrastructure through green bonds, social bonds, and sukuk.”

The Governor of Lagos State, Babajide Sanwo-Olu, represented by the Commissioner for Economic Planning and Budget, Opeyemi George, reiterated the state’s dedication to enabling investment and economic growth.

The director-general of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama emphasized the essential role of capital markets. He stated, “we live in an era of accelerated transformation. Financial markets today are active agents of national development, regional integration, and global competitiveness.”

The chairman of the Board of CSCS, Temi Popoola remarked that “hosting AMEDA in Nigeria reflects the rising influence of our capital market within the region. This is not just a moment of pride for CSCS but a call to deepen our collaborative efforts in strengthening market infrastructure across borders.”

CSCS encouraged ongoing collaboration among financial market stakeholders across Africa and the Middle East, asserting, “together, we can build resilient infrastructures, foster inclusive growth, and unlock new frontiers of innovation and investment.”