The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has underscored the need for accountability and transparency as vital tools to strengthen investor confidence in Nigeria’s capital market.
Agama made this known while delivering a goodwill message at a stakeholder engagement on internal control over financial reporting in the public sector. The event, themed “Strengthening Accounting and Transparency through ICRC,” was organized by Smith Ighodalo Adewale Odiachi (SIAO) in collaboration with the Financial Reporting Council (FRC) in Abuja.
According to the SEC DG, robust internal control mechanisms over financial reporting are crucial for ensuring market integrity and investor trust.
“Internal control over our financial reporting is a critical part of disclosures. Whether in the securities market, for public companies, or other organizations, these controls strengthen accountability, transparency, and integrity within the financial system,” Agama stated.
He further emphasized that investor confidence is tied to transparency and accountability within financial institutions and market operators.
“For investors, what matters is knowing that there is accountability, that people are doing what they ought to do, and stewardship is being upheld,” he added.
Industry analysts note that the SEC’s renewed focus on governance and reporting standards comes at a time when Nigeria is seeking increased domestic and foreign investment inflows to deepen capital market activities.
