Senate Clears Agama As SEC DG, 3 Executive Commissioners

The Senate Committee on Capital Market has cleared Dr. Emomotimi Agama as the director-general of the Securities and Exchange Commission (SEC).

The Committee chaired by Senator Osita Izunaso, also approved the nomination of Frana Chukwuogor as executive commissioner (Legal and Enforcement). Mr Bola Ajomale as executive commissioner (Operations) and Mrs. Samiya Usman as executive commissioner (Corporate Services).

President Bola Tinubu had on April 19 this year appointed Agama as the DG of SEC to take over from Lamido Yuguda. His appointment as SEC DG has been hailed by capital market stakeholders who described him as a technocrat that would boost the birthing of the Tinubu administration’s $1tn economy.

Speaking shortly after his confirmation, Agama said “he will accelerate the development of the capital market in a manner that would boost wealth creation, attract investments and create jobs for Nigerians.”

According to him, his team was appointed by President Tinubu to change the narrative of the capital market and reposition it to the path that would boost economic growth.

“We are bringing on board innovation, development. We are going to change the narrative of the Nigerian capital market. We are going to turn it around. That is the essence of our appointment by the President. With this team, we assure Nigerians that we are going to do the best that the President has the desire to do.

“So, we should all wait to see what is going to happen. Our desire is to move this market forward and to help in achieving the President’s $1 trillion economy in the shortest possible time.”

He described the capital market as the barometer of the economy, saying that the Commission would implement innovative policies and programmes that will create world-class companies in such a way that will ensure redistribution of wealth.

Agama said, “you must understand that the capital market is actually the barometer of any economy. And without a strong capital market, then, of course, the economy will not do very well. The intention of this management is to make sure that we mainstream the capital market in the Nigerian economy.

“And in doing that, we are going to be able to provide employment, change the narrative, and create companies that are going to be top world-class companies in such a way that there will be what we call redistribution of wealth.”