The SEC aims to establish a market free from fraud.

The Securities and Exchange Commission (SEC) has reiterated its dedication to eradicating Ponzi and pyramid schemes in Nigeria, with the goal of fostering a favorable environment for legitimate investments by 2025.

In his New Year address to the capital market community, SEC’s Director-General, Dr. Emomotimi Agama, detailed the commission’s strategic priorities for the year. He stressed that safeguarding investors and rebuilding trust in the capital market are fundamental to SEC’s objectives.

He stated, “Enforcement is essential for effective regulation. We are overhauling our investigative procedures to improve efficiency and ensure that wrongdoers are held accountable more rigorously. Insider trading disrupts market activities and compromises fairness. By updating our regulatory framework, we aim to enhance our detection, prevention, and accountability systems.”

Agama emphasized the commission’s comprehensive strategy to combat fraudulent schemes, which have consistently threatened investor confidence. He noted that SEC will focus on enforcement actions, improve market transparency, and rejuvenate the Investments and Securities Tribunal (IST) to facilitate more effective dispute resolution.

“Transparency is crucial for fostering investor confidence and enhancing capital markets. We will implement measures to provide greater visibility and trust in securities transactions,” he remarked.

The commodities market presents significant opportunities for economic growth. This year, SEC will concentrate on strengthening this sector.

The commodities market presents significant opportunities for economic advancement. This year, the SEC aims to strengthen the frameworks that facilitate its growth, fostering a dynamic environment for both soft and hard commodities. We are dedicated to elevating Nigeria’s commodities market to new heights, he stated.

Dr. Agama encouraged stakeholders to partner with the SEC in promoting inclusive growth within the capital market.

“As we embark on this initiative, I call upon all stakeholders to collaborate with us in realizing these objectives. Together, we can harness the potential of the Nigerian capital market and make this a pivotal year for our economy,” he emphasized.

He reaffirmed the Commission’s commitment to advancing the capital market to ensure development reaches every Nigerian.