The Securities and Exchange Commission has declared its intention to begin a comprehensive investor education campaign aimed at Nigerian state governments.
Through promoting a better awareness of the capital market and its opportunities, this project seeks to unleash the wealth creation potential within different states.
Speaking during a meeting with representatives from the World Bank Group and the International Finance Corporation in Abuja over the weekend, the SEC’s Director General, Emomotimi Agama, emphasized the importance of equipping state governments with the knowledge needed to harness financial markets effectively.
Agama explained, “Imagine setting up factories that will produce goods that can be exported and earn foreign exchange. A lot of Nigerians would be employed, and that would lead to wealth creation and economic development. That is why the Commission will continue to emphasize education. If they do not know, there is little they can do until they know.
“Sometimes it is not because they don’t want to do it, but because they don’t know, and it is our responsibility to give this vital knowledge for wealth creation. There are some states in the country that are so rich, but nothing is happening there. All of their wealth is in the ground.”
The SEC chief disclosed that the campaign would begin with a northern state’s Executive Council, focusing on demonstrating how capital market tools can support economic growth.
The strategy includes providing guides, policy briefs, and case studies of successful state-led initiatives, such as raising capital through bonds or attracting private sector investments.
“We will translate complex financial concepts into simple, actionable insights.
“We believe strongly that if we go out and speak to these people, help them understand the benefits, and show them how to manage their assets meaningfully, we can foster economic growth for the states. It is our responsibility to change the narratives, and we will keep at it,” Agama said.
Earlier, Director of Treasury Market Operations at IFC, Tom Ceusters, highlighted that the World Bank Group and IFC team are on a two-week mission in Nigeria.
Their goal is to engage with regulators and financial organizations to devise actionable strategies that bolster the country’s financial sector.
