Enugu (Nigeria): The Director-General of the Securities and Exchange Commission (SEC), Nigeria, Dr Emomotimi Agama, says that the All-Share Index rose to N39.049 trillion in six months following the enactment of the Investments and Securities Act, 2025.
Agama disclosed this during the Maiden Edition of the Department of Accounting and Finance, Godfrey Okoye University, Enugu, public lecture and colloquium on Wednesday at the university.
The event is themed, “Harnessing The Capital Market For Catalysing Infrastructure Development And Economic Transformation in Nigeria: Prospects, Challenges And Roadmaps.”
Agama, represented by the Director/Head of Litigation, SEC, Abuja, Dr Francis Okafor, noted that the increase was a result of the President Bola Tinubu administration’s demonstration of a clear commitment to repositioning the Nigerian economy.
According to him, one of the most significant steps in this direction is the enactment of the Investments and Securities Act, 2025, by the Tinubu administration.
The director-general added that the landmark legislation had already begun to reshape the contours of the capital market within a short span of six months.
“Within this period, we have witnessed a remarkable transformation in investor confidence and market performance, with the All-Share Index rising to an impressive N39.049 trillion.
“A notable provision of the new Act is the formal recognition and regulation of Digital Assets and Virtual Assets. This development is not merely regulatory; it is visionary.
“It acknowledges the creativity and dynamism of Nigeria’s youth, many of whom are represented in this hall today.
“By creating a framework for digital finance, we are opening new frontiers for inclusive growth and national development,” he said.
He explained that the commission had intensified its oversight of key market segments, including the Commodity Market Ecosystem, online foreign exchange platforms, securities exchanges, and financial market infrastructures.
This, he stressed, was an effort aimed at deepening market integrity and protecting investors. At the same time, the Act introduces stringent penalties for illegal market activities, including Ponzi schemes, with fines of up to N20 million and imprisonment terms of up to 10 years.
These measures are designed to safeguard the credibility of our financial system, and the capital market has proven its capacity to mobilise long-term funds for strategic sectors.
“The recent capitalisation of the banking industry, which raised over N24.342 trillion, is a testament to this potential,” Agama said.
Welcoming the participants, the Vice Chancellor of the university, Prof. Christian Anieke, said the lecture would offer the students of the institution an opportunity to gain knowledge about the capital market.
In his remarks, Gov. Peter Mbah of Enugu State stated that his administration had pledged to grow the Enugu economy from $4.4 billion to $30 billion from the outset.
Mbah, represented by the Secretary to the State Government, Prof. Chidiebere Onyia, stated that achieving this goal necessitates a multi-sectoral approach and engagement with the private sector.
The governor said the lecture complemented what the state government was doing. Mr Chidi Ajaegbu, the 50th President of the Institute of Chartered Accountants of Nigeria (ICAN), also emphasised the need to transform the Nigerian capital market to function correctly and yield the needed results.
According to him, it will be impossible and unsustainable to transform the national economy given its current structure.
He, however, called for attitudinal change towards the capital market to grow it by making it more innovative, expressing the need to monitor, evaluate, account and sanction those who caused infractions in the market.