Innovative financial instruments have the power to unlock new opportunities, foster growth, and address pressing socio-economic challenges, Director General of the Securities and Exchange Commission, Dr Emomotimi Agama, said.

The SEC DG, who stated this in an interview at the weekend, said achieving sustainable development through the revolutionisation of the Nigerian capital market hinges on fostering innovative investment mechanisms, adding that without such advancements, realising substantial economic growth and progress would be a formidable challenge.

He said: “From green bonds to social impact investing, from derivatives to exchange-traded funds, both from the conventional and the non-interest prisms, the spectrum of financial instruments available to investors is vast and diverse.

“The world of financial instruments is constantly evolving, presenting both opportunities and challenges, and Nigeria must seize the opportunities presented by these advancements. Embracing technology, therefore, is paramount.

“Fintech solutions offer increased access to the capital market, streamlined transactions and enhanced transparency. By fostering a regulatory environment that encourages responsible adoption of these technologies, we can unlock their full potential and indeed, the potential of our nation.”

Agama urged stakeholders in the capital market not only to embrace innovation but also to ensure that it is guided by the principles of sustainability, inclusivity, and ethical conduct.

He said there is a need to create a capital market that not only generates wealth but also fosters social and environmental responsibility, adding that it is also imperative to embrace innovations responsibly.

According to him, as the regulatory authority entrusted with safeguarding the integrity and stability of the capital market, the commission must strive to foster an environment that nurtures innovation while upholding the highest standards of transparency, integrity, and investor protection.

The SEC boss urged stakeholders to remain steadfast in their commitment to revolutionising the Nigerian capital market by embracing innovation and harnessing its power for good to pave the way for a more prosperous, inclusive, and sustainable future for all.

He urged stakeholders to support efforts aimed at changing the face of the Nigerian capital market to unlock its full potential as a catalyst for sustainable development.

There is no gainsaying the fact that the agility and new value propositions brought about by technology applications help us to work smarter rather than harder and produce faster outcomes.
 In addition, he stated that collaboration is key to driving meaningful change while pledging the commission’s resolve to work hand in hand with market participants, investors, issuers, and other stakeholders in identifying opportunities, addressing challenges, and co-creating solutions that promote sustainable development.