Nigeria’s capital market must do more to widen access to investment and provide long-term funding for small and medium enterprises (SMEs), infrastructure and emerging sectors, the Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, has said.

  Agama spoke yesterday at the 30th anniversary symposium of the Association of Issuing Houses of Nigeria (AIHN) in Lagos, where he said the success of the capital market should be measured not only by its indices but by how many Nigerians have a stake in it.

  He said the market must enable ordinary Nigerians to own investments and make their savings work for them, while ensuring that investors are adequately protected.

  “A market is justified not by its indices but by its inclusiveness,” Agama said, stressing the need for simplified onboarding, digital Know-Your-Customer processes, low-ticket investment products and stronger financial literacy.

  Agama who was represented by his Special Adviser, Tony Iloka, said the SEC was also working to strengthen enforcement against fraud, Ponzi schemes and unregistered operators, warning that wealth creation without investor protection could expose investors to losses.

  He said SMEs, which he described as the engine of the economy, needed patient capital, crowdfunding channels and listing pathways suited to their size. He added that government and private-sector sponsors also required deeper capital markets to finance critical infrastructure such as roads, power, housing and ports.

  The SEC boss said technology, sustainability and market integration would shape the next phase of Nigeria’s capital market, with tokenisation, digital assets, open data and artificial intelligence changing how securities are issued, traded, settled and supervised.

  In her remarks, the President of AIHN, Kemi Awodein, said the association’s three decades of activity had demonstrated the importance of issuing houses in mobilising long-term capital for economic development.

  She said issuing houses had supported public offerings, rights issues, debt issuances, mergers and acquisitions, helping businesses expand and providing financing for critical sectors.

  Awodein said the market must now respond to rapid changes driven by digital transformation, fintech, sustainable finance, artificial intelligence and evolving investment products. She called for greater access to capital for SMEs, infrastructure projects and emerging sectors, saying the capital market remained a key channel for mobilising domestic and international investment.

  The AIHN president also called for a formal national savings framework that will enable Nigerians to save regularly and channel the funds into the capital market and financing of small businesses, noting that digital platforms had made it easier to reach investors through mobile phones and the internet.

  The symposium featured panel discussions on the evolution and future of Nigeria’s capital market, investment opportunities, innovation and the role of the market in economic transformation,

  Among the participants were Group Managing Director, Afrinvest West Africa, Ike Chioke; Deputy Director, Securities Offering Division, SEC, Adama Babadoko; Managing Director/CEO, FundQuest Financial Services, Abidoun Akinjayeju and Deputy Managing Partner at the law firm of Udo Udoma & Belo-Osagie, Ozofu ‘Latunde Ogiemudua.

  The discussions examined the need for deeper investment, stronger market institutions and sustainable growth as Nigeria seeks to make the capital market a more effective source of funding for economic development.