SEC and governors to discuss investment opportunities in the capital market

The Securities and Exchange Commission (SEC) is gearing up to roll out an investor education program aimed at State Governments nationwide in a bid to unlock the potential for wealth creation within each state. Dr. Emomotimi Agama, the Director General of the SEC, made this known during a meeting in Abuja with a team from the World Bank Group and the International Finance Corporation (IFC).

Agama emphasized the need to educate state governments about the various opportunities available in the capital market. He stressed the importance of enhancing their knowledge of financial markets, investment strategies, and regulatory frameworks to spur economic growth and wealth creation. The goal is to have states set up factories that produce exportable goods, leading to job creation and economic development.

The SEC plans to kick off this strategic initiative by engaging with the Executive Council of a state in northern Nigeria to enlighten them about the potential benefits of the capital market. Agama highlighted the importance of education in this process, explaining that many states in Nigeria are rich in resources but lack development due to a lack of knowledge about how to harness their assets effectively.

The Director-General underlined the need to demystify financial concepts and provide states with clear, actionable insights into how they can leverage the capital market to raise funds through bonds or attract investments. Through guides, reports, and policy briefs, the SEC aims to simplify complex financial ideas and showcase success stories of Nigerian states that have effectively utilized the capital market.

Agama expressed confidence that educating state officials and empowering them to manage their assets properly will lead to significant economic growth within the states. He emphasized the SEC’s commitment to changing the current narrative and driving positive change through continuous outreach and education efforts.

The World Bank Group and IFC delegation, represented by Mr. Tom Ceusters, Director of Treasury Market Operation at IFC, are on a two-week mission to Nigeria to engage with regulators and financial sector organizations. They aim to collaborate on plans to support and facilitate the financial endeavors of these entities, aligning with the SEC’s goal of promoting investment opportunities and economic growth at the state level.

In conclusion, the SEC’s upcoming investor education program represents a proactive step towards empowering state governments to tap into the wealth creation potential of the capital market. By providing education, guidance, and support, the SEC aims to catalyze economic development and foster a culture of informed investment decision-making among state authorities.