Nigeria’s capital market gained fresh international visibility with the election of the Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, as Vice Chairman of the Africa/Middle East Regional Committee (AMERC) of the International Organisation of Securities Commissions (IOSCO).

By this appointment, Agama will also serve on the IOSCO Board, the highest decision-making organ of the global securities regulatory body, until 2026.

Why This Matters

IOSCO, established in 1983, is the recognised global standard-setter for securities regulation, with members overseeing more than 95% of the world’s capital markets across over 100 jurisdictions. Serving on its board places Nigeria at the heart of global policy conversations on securities markets, regulation, innovation, and investor protection.

For Nigeria, this means:

• Stronger Global Influence – SEC Nigeria will have a voice in shaping international standards that directly impact emerging and frontier markets.
• Improved Investor Confidence – Nigeria’s alignment with global best practices could attract more foreign portfolio and direct investments.
• Policy Transfer & Collaboration – The appointment opens opportunities for knowledge exchange and technical partnerships with other jurisdictions.

Agama’s Vision

In his acceptance remarks, Dr. Agama described the election as “a mandate to transform our capital markets into engines of inclusive growth, innovation, and shared prosperity for Africa and the Middle East.”

He outlined strategic priorities such as:

• Expanding listings by harmonising standards and reducing costs.
• Boosting liquidity through regional market-making schemes.
• Advancing pension reforms to channel domestic savings into investments.
• De-risking infrastructure projects to attract global capital.
• Leveraging Africa’s young population for retail investor growth, fintech innovation, and startup listings.

On digital assets, he highlighted a $10 trillion market opportunity by 2030, calling for clearer regulations on stablecoins, tokenised securities frameworks, and investor-protection rules for crypto assets.

Implications for Nigeria’s Capital Market

Agama’s IOSCO role is expected to accelerate ongoing reforms within Nigeria’s securities space. His priorities align with the SEC’s recent initiatives, including:

• Joining the Growth and Emerging Markets Committee Network on Sustainability, which integrates Nigeria into the global sustainability reporting and ESG standards movement.
• Driving reforms that lower the cost of market participation for issuers and investors.
• Building stronger governance around digital and alternative asset classes.

For Nigeria, this appointment represents not only international recognition but also a potential turning point in making the capital market more inclusive, innovative, and globally competitive.