Emomotimi Agama, the director-general of the Securities and Exchange Commission, says the public-private collaboration offers mutual benefits for both sectors.

Mr Agama said this at the Chief Executive Officers breakfast session on Wednesday in Abuja, on the sidelines of the 30th Nigerian Economic Summit (NES30).

He said that the private sector gains from the regulatory insights of former public officials, while the public sector benefits from the innovation and efficiency inherent in the private sector.

“Together, we can create a business environment that promotes growth, grounded in transparency and good governance. This collaboration ensures that our regulatory frameworks remain relevant, robust, and responsive to the evolving needs of the market.

“By working together, we can cultivate an ecosystem where businesses flourish and regulatory oversight encourages rather than impedes economic progress,” the SEC chief stated.

Mr Agama said that as a regulator, the SEC played a critical role in ensuring that transitions between the public and private sectors were seamless and ethical.

“Our oversight guarantees that companies adhere to the highest standards of governance while protecting investors from malpractices through our efforts. We seek to enhance market legitimacy, foster investor confidence, and promote private sector participation in economic growth,” he said.

Mr Agama explained that the SEC was a guardian of market integrity, ensuring that the private sector could innovate while maintaining accountability.

According to Mr Agama, the public sector focuses on regulation, policy-making, and safeguarding the public interest. He said that the private sector emphasises innovation, competition, and profitability.

Mr Agama said that this interplay offers opportunities for cross-pollination, pointing out that to fully harness the potential of these transitions, “we recognise the need for structured support to facilitate the influx of expertise from the private sector.”

He said the challenge lies in balancing the valuable experiences gained from these transitions with the imperative for ethical conduct.

“Public-private transitions must never be perceived as a ‘revolving door’, where individuals leverage their positions for personal gain. We must implement safeguards such as cooling-off periods, conflict-of-interest policies, and comprehensive transparency measures to ensure these transitions uphold the integrity of our regulatory framework,” Mr Agama explained.

(NAN)