Capital Market Key to Reaching $1trn Financial system, Edun Says

Minister of Finance and Coordinating Minister of the Financial system, Wale Edun, has emphasised the essential function of the capital market in attaining the nation’s bold purpose of turning into a $1 trillion financial system.

Talking on the Capital Market Committee (CMC) assembly, Edun who was represented by Minister of State for Finance, Dr. Doris Uzoka-Anite, on Mon­day, highlighted the market’s transformation since 2015, with enhancements in governance buildings, new merchandise and platforms, stronger regulatory setting, and rising investor participation. ­

In accordance with the minister, the implementation of the Cap­ital Market Grasp Plan (2015- 2025) has been instrumental in growing the market’s contribution to the nationwide financial system, creating a classy market construction, and enhancing competitiveness.

Edun mentioned the revised plan prioritises digitalisation, innovation, sustainability, inclusion, and capital formation, aligning with the broader financial reform agenda.

He mentioned the passage of the brand new act modernises the authorized and regulatory framework, streamlines enforcement mechanisms, and gives readability on rising areas akin to digital belongings and crowdfunding.

On the challenges and alternatives inherent within the Act, the minister mentioned it is going to assist deepen market participation, in addition to guarantee regulatory coordination stay tight.

Talking on the federal government non-public sector innovation in creating the wanted setting for companies to thrive, the minister famous that the federal government is dedicated to creating an enabling setting for personal sector innovation to flourish inside a good and clear setting.

The minister added that the market is predicted to contribute to the financial system, serving not just for capital elevating but additionally as a car for wealth creation, financial inclusion, and long-term nationwide resilience.

He defined that with the Securities and Trade Fee (SEC) enterprise regulatory reforms, together with becoming a member of the GBMC Community of IOSCO in selling and implementing ISSB requirements, amongst others, the home financial system has recorded the quickest GDP progress in a couple of decade in 2024, pushed by a robust fourth quarter and improved fiscal place.

Earlier in his speech, the DG, SEC, Dr. Emomotimi Agama, emphasised the fee’s com­mitment to regulatory reforms and capital market progress.

In accordance with him, the enactment of the Funding and Securities Act (ISA) 2025 marks the start of a transfor­mative new period for the capital market.

Agama highlighted the com­mission’s efforts to deepen engagement with stakeholders, guarantee widespread dissemination and understanding of the brand new regulation, and drive innovation and compliance.

He additionally emphasised the impor­tance of restoring investor con­fidence, bringing well timed aid to aggrieved buyers, and making a platform for broad-based participation of Nigerians in wealth creation.

The SEC boss famous that the fee has constituted an implementation crew to totally interact with each provi­sion of the ISA 2025 and arrange a devoted sensitisation crew to deepen public understanding of the brand new regulation. A podcast sequence has additionally been launched to simplify the ISA 2025 and make it accessible to all Nigerians.

Agama highlighted the Nigerian capital market’s spectacular efficiency in 2024, with the NGX All-Share Index growing by 37.65% and market capitalisation rising by 53.39%.

He additionally famous the commis­sion’s efforts to reinforce regulatory effectivity, promote market integrity, and shield buyers.

The SEC boss emphasised the significance of economic inclusion and investor training, citing the fee’s initiatives to empower ladies, youth, and grassroots communities.

He additionally highlighted the fee’s dedication to tech­nology-driven options, includ­ing the launch of an e-survey to evaluate rising expertise adoption within the Nigerian capital market.

Agama concluded by emphasising the fee’s com­mitment to fostering progress, transparency, and sustainability within the capital market, and searching ahead to fruitful deliberations on the assembly.

The spotlight of the CMC assembly was the disclosing of the ISA Act 2025 by the minister.