The Business NG - March 24, 2025

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The Securities and Exchange Commission (SEC) has reiterated its commitment to safeguarding Nigeria’s capital market by ensuring that only individuals deemed “fit and proper” are allowed to operate within the sector. According to SEC Director-General, Dr. Emomotimi Agama, the regulator is intensifying efforts to protect investors by cracking down on unethical operators and implementing stricter regulatory measures.

Speaking during an interview in Abuja, Agama warned that individuals and entities engaging in unethical practices would be exposed and penalized. He stressed that the principle of the “fit and proper person’s test,” as established under the Investments and Securities Act (ISA) 2007, remains a critical foundation for approving securities market operators.

Agama also emphasized that transparency and adequate disclosures by public companies are essential for informed decision-making by investors. He noted that any breach of these requirements constitutes a violation of SEC rules and the ISA, which the commission is determined to enforce.