SEC targets broader financial inclusion through investment by 2030

BY TEMITOPE ADEBAYO

The Securities and Exchange Commission (SEC) has called for urgent and deliberate action to deepen financial inclusion in Nigeria through investment-led strategies, warning that failure to act could worsen inequality and economic instability.

Speaking at the United Capital Asset Management Investment Forum in Lagos, SEC Director-General, Dr Emomotimi Agama, said Nigeria stands at a crossroads where it must either harness its demographic advantage or face the consequences of a widening knowledge and wealth gap.

Delivering a keynote address titled “Advancing Financial Inclusion through Investments: Bridging Nigeria’s Knowledge and Wealth Gap”, Agama described financial inclusion as fundamental to national survival, not just a development goal. He stressed that by 2030, Nigeria must fully activate the economic potential of its youthful population or risk deepening poverty.

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He noted that the knowledge-wealth gap is not merely an economic issue but a moral challenge that requires decisive and inclusive policies.

Agama stated that the concept of inclusion must evolve into active financial involvement—where access to capital translates into empowerment and opportunity. He emphasised that bridging the gender gap in financial access alone could lift 700,000 Nigerians out of poverty. Despite Nigeria’s large population, only a fraction participates in the capital market, a gap he said must be closed if the country is to reduce poverty and boost shared prosperity.

“Our market capitalisation is an opportunity to do something. We must change the narrative and move this market forward. We are committed to protecting investors and developing the market. Our goal is to do the right thing no matter whose ox is gored. We will work by the principles of fairness and equity to change the market and provide a fair ground for everyone to aspire,” Agama said.

He cited MTN Nigeria’s share offering as a successful example of inclusive participation, with 150,000 new investors—75 per cent of them women and 85 per cent under the age of 40—joining the market through the offer.

To drive inclusion, Agama proposed a four-pillar strategy involving the democratisation of financial knowledge, creation of MSME investment channels, the use of blended finance vehicles, and partnerships with institutions such as the Bank of Industry to de-risk lending to women-led small businesses. He called for a national movement to raise financial literacy and increase market participation.

“As we drive this market, we do so for a purpose. I encourage everyone to be a disciple and an apostle. Getting this market to move is a deliberate action,” Agama declared.