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SEC DG Pushes Capital Market Inclusion for Nigeria’s Informal Sector

The Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, wants more Nigerians—especially those in the informal sector—to be part of the country’s capital market.

Speaking in Lagos at United Capital Asset Management’s second Investment Forum, Agama made his stance clear.

“We must create structured and simplified channels to bring excluded Nigerians, especially those in the informal sector, into the capital market ecosystem,” he said.

He also stressed that tackling financial illiteracy is “not only a regulatory concern but a national imperative.”

New Law, New Hope

Agama pointed to the newly signed Investments and Securities Act (ISA) 2025 as a game-changer.

According to him, the reforms under the Act will restore market integrity, strengthen investor protection, and widen access to capital market opportunities.

“True financial inclusion goes beyond access; all Nigerians must be empowered with knowledge and confidence to build wealth and contribute meaningfully to economic growth,” Agama added.

His remarks come as Nigeria battles low retail participation in the capital market, despite improvements in basic financial access.

Industry Players Back Inclusion Drive

Group CEO of United Capital Plc, Peter Ashade, echoed similar concerns.

“When we launched the inaugural edition, our goal was simple: to create space for meaningful engagement on the role of the capital market in building wealth and driving inclusive economic growth. Today, that goal remains the same, but the urgency is even greater,” Ashade said.

He called for stronger collaboration among stakeholders—regulators, competitors, and media—to drive financial inclusion.

Managing Director of United Capital Asset Management, Odiri Oginni, said the key to trust lies in education.

“What people need is the understanding of finance, the understanding of risks, investments, returns and diversification,” she noted.

She urged capital market operators to go beyond product promotion and instead “give people actual information that would help them manage their finances properly.”

The forum also featured insights from EFInA CEO Foyinsolami Akinjayeju, who presented fresh data on Nigeria’s financial inclusion landscape.

There were conversations on building investment products tailored to consumers, restoring trust in underserved communities, and combating misinformation and Ponzi schemes.

United Capital used the event to showcase new initiatives, including a Children Investment Fund. The firm currently manages over ₦1 trillion in assets across 10 mutual funds.

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