Capital market operators have said that implementation of the Nigerian capital market master plan must be paramount for the new Director General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama.
The operators commended President Bola Tinubu for the appointment of Dr Emomotimi Agama as the Director-General designate for the SEC.
They gave the commendation in separate interviews while reacting to the new SEC board composition by the President.
Prof. Uche Uwaleke, the President of Capital Market Academics of Nigeria, described Agama’s appointment as “a round peg in a round hole.”
Uwaleke, who noted that Agama had been in the commission for over 20 years, urged him to continue from where the present SEC Director-General stopped.
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He said that implementation of the Nigerian capital market master plan must be paramount in his agenda.
Also speaking, Mr Olatunde Amolegbe, the Managing Director of Arthur Steven Asset Management Limited, hailed the appointment of Agama along with the other board members of SEC.
Amolegbe said the appointment was well thought through and appropriate for the enhanced growth and development of the capital market.
- “Most of them are well-grounded capital market professionals with decades of experience under their belt both locally and internationally.
- “Agama has been a regular in the Nigerian capital market for upward of 25 years or maybe more as far as I know,” he said.
On the agenda for the new team, Amolegbe enjoined the new team to continue with the implementation of the capital market master plan.
He also urged them to develop the nation’s commodities exchanges to fill the gap of trading in locally sourced soft commodities such as oil and gas and agricultural products.
Amolegbe added that the new team should ensure that the regulatory-induced banking recapitalisation is conducted in an efficient and orderly manner.
- “The medium-term goal will be to position the capital market to facilitate the one trillion-dollar economy goal of the Federal Government will be key.
- “I would like to see us achieve a market capitalisation to Gross Domestic Product levels of at least over 50% by the end of their first tenure.
- “These are lofty but achievable goals while congratulating the outgoing team for the excellent work they’ve done.
- “I wish the new team the very best as they embark on this journey,” he said.
Nairametrics reported that President Bola Tinubu has appointed Emomotimi Agama as the director general of the Securities and Exchange Commission (SEC).
Ajuri Ngelale, special adviser to the president on media and publicity, disclosed this in a statement on Friday.
Tinubu also approved the appointment of the following Nigerian professionals to the Board of the Securities and Exchange Commission (SEC): Mr. Mairiga Aliyu Katuka – Chairman, Frana Chukwuogor – Executive Commissioner (Legal and Enforcement), Mr. Bola Ajomale — Executive Commissioner (Operations), Mrs. Samiya Hassan Usman Executive Commissioner (Corporate Services), Mr. Lekan Belo — Non-Executive Commissioner and Mr. Kasimu Garba Kurfi — Non-Executive Commissioner
According to the official X Account of the Nigerian Television Authority (NTA), Ajuri Ngelale said the President anticipates that all members of the Board of this critical commission will bring to bear their wealth of experience and competence in advancing the commission’s core mandate of developing and regulating a capital market that is dynamic, fair, transparent, and efficient, to bolster investor confidence and contribute immeasurably to the nation’s economic development.
