SEC targets digital finance, commodities markets to drive FG’s $1 trn economy

cover, Financial Markets

The Securities and Exchange Commission (SEC) has emphasized the importance of digital finance and commodities markets in rural areas as crucial to drive the federal government’s target of a $1 trillion economy.

Speaking at the ongoing IOSCO World Investor Week in Lagos, SEC announced plans to prioritize investor education and digital finance to deepen capital market participation and harness the growing interest in financial technology.

The event, hosted by SEC in collaboration with AFEX Commodities Exchange, brought together stakeholders from the financial, investment, government, and media sectors.

Representing the Director General, SEC, Dr. Emomotimi Agama, Executive Commissioner, Operations, Bola Ajomale, stated: “Digital finance is vital for rural communities, where commodities markets play a significant role. These markets connect farmers to global markets and facilitate economic growth.

“Achieving the President’s vision of a $1 trillion economy requires encouraging investors, promoting investments, and showcasing Nigeria as a safe investment destination. Investment growth drives economic expansion.”

Regarding investor education, Ajomale emphasized: “Empowering investors with knowledge protects them from risks such as scams and unregulated schemes. Nigeria’s capital market future relies on an informed and engaged investor base.”

Ayodeji Balogun, CEO of AFEX Commodities Exchange, represented by Vice President, Financial Markets, Oluwafunto Olasemo, noted: “Digital finance revolutionizes trading, investing, and economic value creation. AFEX is committed to connecting rural communities and small-scale producers to broader markets, ensuring inclusivity in this technological revolution.”

Balogun added: “Our vision is to create a transparent, efficient, and robust commodities exchange that empowers the economy and transforms lives. Collaboration with stakeholders like SEC is crucial to fostering innovation, trust, and growth within the commodities ecosystem.”