Senate Accept Emomotimi Agama As Director-General Of SEC (Full Details)

Senate Accept Emomotimi Agama As Director-General Of SEC (Full Details)

The Senate has cleared Emomotimi Agama as the Director-General of the Securities and Exchange Commission (SEC). The Senate Committee on Capital Markets, chaired by Senator Osita Izunaso, cleared Agama one month after his appointment by President Bola Ahmed Tinubu.

The committee also approved the nominations of Frana Chukwuogor as Executive Commissioner (Legal and Enforcement), Bola Ajomale as Executive Commissioner (Operations), and Samiya Usman as Executive Commissioner (Corporate Services).

On April 19, President Bola Tinubu appointed seven SEC members. However, on May 15, Tinubu requested the Senate to screen and confirm only four of these appointees, with no explanation for the omission of the other three.

Following his confirmation, Agama expressed his commitment to accelerating the development of the capital market to boost wealth creation, attract investments, and create jobs for Nigerians. He stated, “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. That is the essence of our appointment by Mr. President. With this team, we assure Nigerians that we’re going to do the best that the President has the desire to do.”

Agama emphasized the importance of the capital market as a barometer of the economy and highlighted the commission’s plan to implement innovative policies and programmes. “You must understand that the capital market is actually the barometer of any economy. And without a strong capital market, then, of course, the economy will not do very well. The intention of this management is to make sure that we mainstream the capital market in the Nigerian economy,” he added.

The new SEC boss pledged to reposition the capital market for economic growth, aiming to achieve the President’s $1 trillion economy goal in the shortest possible time. Agama concluded, “The president has an intention to change the lives of Nigerians. And the capital market is one of the vehicles that the president intends to use to achieve that.”