The Senate Committee on Capital Markets has confirmed Emomotimi Agama as the new Director-General of the Securities and Exchange Commission (SEC). Alongside Agama’s confirmation, the committee approved the appointments of Frana Chukwuogor as SEC’s Executive Commissioner of Legal and Enforcement, Bola Ajomale as Executive Commissioner of Operations, and Samiya Usman as Executive Commissioner of Corporate Services.
Agama’s appointment, announced on April 19, 2024, by President Bola Tinubu, marks a significant leadership change following the tenure of Lamido Yuguda. Agama’s confirmation has been met with approval from capital market stakeholders who regard him as a technocrat capable of driving the Tinubu administration’s ambitious $1 trillion economy target.
In a statement to *PUNCH*, SEC highlighted the broad support for Agama’s appointment, noting the positive outlook from market stakeholders. Agama, upon his confirmation, reiterated his commitment to accelerating the development of Nigeria’s capital market with a focus on wealth creation, investment attraction, and job creation.
“We are bringing on board innovation and development. We are going to change the narrative of the Nigerian capital market. We are going to turn it around,” Agama stated, emphasizing the importance of innovation in revitalizing the capital market.
Agama’s leadership is anticipated to play a crucial role in advancing the capital market’s contribution to Nigeria’s economic growth, aligning with President Tinubu’s economic goals. The new executive team at SEC, with their diverse expertise, is expected to bolster regulatory enforcement, operational efficiency, and corporate services within the commission.
