The Securities and Exchange Commission (SEC) is set to educate state governments on investment opportunities within the capital market, aiming to boost wealth creation and drive economic growth.
SEC Director-General, Dr. Emomotimi Agama, revealed this during a meeting in Abuja with representatives from the World Bank Group and the International Finance Corporation (IFC). He emphasized that the Commission plans to engage state governments, helping them explore capital market opportunities while enhancing their understanding of financial markets, investment strategies, and regulatory frameworks.
Agama, highlighted that many states have untapped economic potential that could be unlocked through capital market investments, fostering wealth creation and sustainable development.
According to him, “There are some states in the country that are so rich, but nothing is happening there. All of their wealth is in the ground. Imagine setting up factories that will produce goods for export, earning foreign exchange, creating employment, and driving economic growth. He added that the initiative will soon begin with the Executive Council of a northern Nigerian state, where discussions will focus on capital market opportunities.
He emphasized that the Commission would develop guides, reports, and policy briefs to simplify capital market concepts for state governments. These materials will break down complex financial ideas into clear, actionable insights and showcase successful case studies of Nigerian states that have raised capital through bonds or attracted investments in the market.
He further stated that the SEC is focused on engaging state governments to enhance their understanding of capital market benefits and effective asset management for economic growth. The Commission aims to reshape the narrative and drive positive change through these efforts.
Tom Ceusters, Director of Treasury Market Operations at IFC, stated that the World Bank Group and IFC delegation embarked on a two-week mission to Nigeria to engage in in-depth discussions with regulators and financial sector organizations, aiming to develop strategic plans to support their initiatives.
The SEC reaffirmed its commitment to collaborating with state governments to enhance capital market participation and drive sustainable economic development.
