Agama: Regulation Must Run Ahead of Market Disruption
Kayode Tokede
The Director General, Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has stressed that capital market regulation must be ahead of market disruption not behind it
Agama who spoke recently on the theme “Building an Investable Nation Through Policy, Reform and Resilience,” at the FSDH inaugural Investors’ Conference highlighted the role of regulatory clarity, market discipline, and institutional trust in attracting and sustaining investment flows.
The conference was FSDH commitment to shaping the future of investing in Nigeria, convening a high-level audience of investors, policymakers, regulators, fund managers, and financial experts to examine the future of investing and explore pathways to sustainable economic growth.
Held in Lagos, the one-day hybrid event brought together key stakeholders across the financial ecosystem under the theme, “Co-creating the Future of Intelligent Investing.”
The conference served as a platform for engaging discussions on evolving market dynamics, emerging investment opportunities, and the role of collaboration in shaping a more resilient and inclusive financial landscape.
Delivering his keynote address virtually, Agama said, “Regulation must run ahead of disruption, not behind it. Our regulatory posture on technology is neither prohibition nor permissiveness; it is intelligent governance. Co-creation is not consultation; it is shared sovereignty over the future of our financial architecture.
“The SEC Nigeria does not regulate for the market; we regulate with the market and so intelligent investing is not exclusive, rather it is by design. The intelligence we invest in building this market today is the prosperity we harvest for generations yet unborn.”
“Today we can gladly say that the market is well over N130 trillion in market capitalization. The question is whether we shall be its architect or its inheritors. We should not regulate the market of yesterday; we are building the regulatory scaffolding for the market of tomorrow.
In her opening remarks, Managing Director, FSDH Merchant Bank, Bukola Smith, emphasised the importance of collective intelligence in navigating an increasingly complex investment environment, noting that sustainable growth will depend on the ability of stakeholders to work more collaboratively across sectors.
“Today is more than the launch of a conference. It’s a gathering of minds, institutions, and leaders committed to shaping the future of investing in Nigeria. Sustainable economic growth requires more than access to capital. It requires confidence, it requires trust, it requires strong institutions. Strong market performance alone does not define an investable nation.
“An investable nation is built on sound policy, regulatory consistency, market transparency, and confidence that capital, especially long-term capital, can be deployed safely and productively. Building an investable nation requires all hands-on deck,” she said.
A fireside chat featuring, Director General of PenCom, Omolola Oloworaran examined the role of pension capital in infrastructure financing and long-term value creation, with a focus on how institutional funds can be more effectively deployed to support national development priorities.
She noted that, “Institutional capital, especially pension funds, has the scale and patience required to finance infrastructure, but it must be supported by the right frameworks, de-risking mechanisms, and collaborative partnerships.”
According to the PenCom DG, the future of pension systems lies in their ability to balance safety with impact, protecting contributors while actively financing the growth of the real economy.
“In five years, we could be looking at maybe 100 trillion in pension assets, which I'm being very optimistic about. So, we want to change the landscape of the business, bring new and fresh people into the system.
“Last year we introduced Pension Boost 1.0 and that significantly increased payouts by over 40%. What we continue to do is encourage, or provide an enabling environment for, pension funds to be able to invest and take the right kind of risks that can generate high returns,” she said.
Panel discussions further expanded on key issues, including collaboration between banks, technology firms, and investors; mobilising capital for infrastructure, energy, and the real sector; and strengthening capital markets through policy reforms that enhance liquidity and investor participation.
In his closing remarks, Managing Director, FSDH Asset Management, Toyin Owolabi, expressed optimism about the outcomes of the conference and the path ahead, noting that the conversations held would translate into meaningful action across the financial ecosystem.
“The future will be defined by what we build together. Today, we take that step forward with confidence and purpose,” he said, urging stakeholders to sustain the momentum generated and continue driving collaboration that supports long-term economic growth.
Beyond the formal sessions, the event provided an opportunity for high-level networking and engagement, fostering connections between capital providers, businesses, and policymakers.
Discussions throughout the conference underscored the importance of transparency, collaboration, and innovation in building a future-ready investment ecosystem.
The Investors’ Conference marks a significant milestone for FSDH as it continues to strengthen its position as a thought leader within Nigeria’s financial services industry.
The platform is expected to drive ongoing conversations and initiatives aimed at enhancing market confidence, deepening investment participation, and supporting long-term economic development.
