The Senate Committee on Capital Market has cleared Dr. Emomotimi Agama as the Director-General of the Securities and Exchange Commission.
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).
His appointment as SEC DG has been hailed by analysts as well as capital market stakeholders who described him as an experienced technocrat that would bring his wealth of experience and expertise to bear on leadership of the Commission.
It is also expected that some of the lingering issues such as the proper regulation of the cryptocurrency trading would be given expeditious action and the desired monitoring that would bring sanity into the trading subsector.
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.
He said, “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 appointed by Mr. President. With this team, we assure Nigerians that we’re 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 $1tn economy in the shortest possible time.
“Yes, the President is going to be a year in office in a few days. That is remarkable because as an anniversary giver, the President has given us to Nigerians to do the best to change the market.”
He described the capital market as the barometer of the economy, noting that the Commission would implement innovative polices and programmes that will create world-class companies in such a way that will ensure redistribution of wealth.
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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’re 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.
“The President has an intention to change the lives of Nigerians. And the capital market is one of the vehicles that the President intends to use to achieve that. That is why the President has set up a team like this to be able to do that.”
