Yemisi Izuora
The Director General (DG) of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has highlighted the critical importance of promotion accountability and transparency, saying they are critical tools for strengthening investor confidence in Nigeria’s capital market.
He warned that lack of accountability can easily corrode public respect for business and promote investor apathy.
Dr. Agama stated this while delivering a goodwill message at a stakeholder engagement on internal control over financial reporting in the public sector.
The event, themed “Strengthening Accounting and Transparency through ICRC,” was organized by Smith Ighodalo Adewale Odiachi, SIAO under the Internal Control over Financial Reporting (ICFR), in collaboration with the Financial Reporting Council (FRC) in Abuja.
According to the SEC DG, proper internal control mechanisms over financial reporting are essential for market integrity and investor trust.
“Internal control over our financial reporting is a critical part of disclosures. Whether in the securities market, for public companies, or other organizations, these controls strengthen accountability, transparency, and integrity within the financial system,” Agama stated.
The SEC DG added that investor confidence is closely tied to how transparent and accountable financial institutions and market operators are.
“For investors, what matters is knowing that there is accountability, that people are doing what they ought to do, and stewardship is being upheld,” he said. “When investors see that management is committed to these principles, they are more likely to invest,” Dr. Agama said.
Dr. Agama, also spoke on the recent passage of the Investment and Securities Act (ISA) 2025, signed into law by President Bola Ahmed Tinubu on March 25, describing it as a milestone in capital market reform.
“The ISA 2025 has introduced key reforms aimed at fostering a more transparent and efficient market,” he noted. “We are already seeing improved investor sentiment and increased confidence in the system.”
He stressed that the SEC, under his leadership, is committed to professionalism and adherence to the law, and that these values are driving improvements in the market.