The Securities and Exchange Commission (SEC) says the money required to develop the country could only be sourced from the capital market.

SEC director-general Emomotimi Agama said this at an engagement with journalists in Abuja on Monday.

Mr Agama said there was a need to mainstream the capital market into every sector of the economy to facilitate the country’s development.

He said the amount of money required to develop this country is huge.

He added that the capital market would be the best way to develop.

Mr Agama said the commission had engaged the Toronto Centre of Canada to help build the staff’s capacity to meet the market’s dynamism.

Regarding SEC’s outlook for 2025, Agama said that the focus remained on enhancing market transparency and confidence and leveraging financial technology to drive inclusion.

He explained that innovation and strengthening collaboration with domestic and international stakeholders to maintain financial stability were also part of the outlook.

The director-general said the commission spoke with the World Bank and International Monetary Fund to see how they could help build the country’s capital market.

”As you are aware, the African Development Bank (AfDB) is supporting us with the acquisition of a market surveillance system,” he said.

Mr Agama said that the engagement promoted transparency, awareness and confidence in the capital market.
He urged journalists to help educate the public on the dynamism of the market.

(NAN)