SEC canvasses digital finance to boost capital market
The Securities and Exchange Commission has stressed the need for investor education and digital finance to boost the growing interest in financial technology and deepen market participation.
This was disclosed by the Director General, SEC, Emomotimi Agama, at the IOSCO World Investor Week held in Lagos, on Wednesday.
The day’s initiative, hosted by SEC in collaboration with AFEX commodities, aimed to bring together a range of stakeholders from the financial and investment sectors, government, and media.
The SEC boss, represented by the Executive Commissioner, Operations SEC, Bola Ajomale, emphasised the importance of equipping Nigerian investors with the right knowledge and tools to safely navigate the evolving financial landscape
“With the increasing role of technology in financial services, it’s essential that investors are empowered with the right information to avoid risks such as scams and unregulated schemes. The future of Nigeria’s capital market depends on an educated and engaged investor base,” Agama stated.
He added that through the initiative, the commission was bringing investors to the capital market, and ensuring that marginalised groups, such as rural farmers, could partake in financial opportunities, further driving Nigeria’s economic growth.
Also, the Chief Executive Officer of AFEX Commodities Exchange, Ayodeji Balogun, added that the rise of digital finance was reshaping how the public trades, invests, and builds economic value.
He added that AFEX remained committed to connecting rural communities and small-scale producers to broader markets, ensuring no one was left behind in the technological evolution.
A highlight of the event was the launch of a comic book titled: ‘Tradevers’, aimed at fostering investor education.
In his remarks, the co-founder of HerVest, Yomi Ogunleye, highlighted the financial gender gap, stating, “The gap is quite wide. At HerVest, we are trying to bridge that gap by providing women access to services like savings and impact investments.
“Small women farmers constitute about 70 per cent of the agricultural sector, yet only 10 per cent have access to finances. We currently have over 50,000 users, both in rural and urban areas, whose lives have improved over time through our services.”
The PUNCH reports that the SEC would be conducting investor clinics in Lagos, Abuja, and Port Harcourt as part of the activities for World Investor Week 2024, scheduled from October 7-11.
