By Obas Esiedesa, Abuja

The Director General of the Securities and Exchange Commission, SEC, Dr. Emomotimi Agama, has emphasized the importance of innovative financial instruments in achieving sustainable development in Nigeria.

A statement by SEC, said Agama who spoke in Abuja, noted that the Nigerian capital market must embrace innovation to unlock new opportunities, foster growth, and address socio-economic challenges.

“As we embrace innovation, it is imperative that we do so responsibly,” Dr. Agama said. “We must strive to create a capital market that not only generates wealth but also fosters social and environmental responsibility.”

“The world of financial instruments is constantly evolving, presenting both opportunities and challenges, and Nigeria must seize the opportunities presented by these advancements,” he said.

He highlighted the vast array of financial instruments available, including green bonds, social impact investing, derivatives, and exchange-traded funds.

“From green bonds to social impact investing, from derivatives to exchange-traded funds, both from the conventional and the non-interest prisms, the spectrum of financial instruments available to investors is vast and diverse,” Dr. Agama explained.

Dr. Agama stressed the need for the capital market to evolve and embrace technology, particularly fintech solutions, to increase access, streamline transactions, and enhance transparency.

“Technology applications help us to work smarter rather than harder and produce faster outcomes,” he said.

He urged stakeholders to collaborate and work together to identify opportunities, address challenges, and co-create solutions that promote sustainable development.

“Let us change the face of the Nigerian capital market for the better, and unlock its full potential as a catalyst for sustainable development,” Dr. Agama urged.