The Securities and Exchange Commission (SEC) has underscored that technological innovation cannot supplant the critical role of ethics in establishing a trustworthy and transformative capital market. This statement was made by the SEC”s Director General, Dr. Emomotimi Agama, during the 29th annual conference of the Chartered Institute of Stockbrokers (CIS) in Abuja.
Dr. Agama asserted that a genuinely transformative capital market relies on principles of integrity, transparency, and accountability. He emphasized, “No amount of innovation can replace the foundational importance of ethics.” He called upon stockbrokers to maintain the highest standards of professionalism and ethical behavior, highlighting that market credibility is fundamentally rooted in trust and fairness.
“In every thriving market, investors must have full confidence that the intermediaries managing their wealth are guided by the highest standards of honesty and competence,” he added. The theme of this year”s conference, “Capital Markets in a Digital, Ethical, Sustainable Era: Pathways for Economic Transformation,” was described by Agama as timely and reflective of global trends.
He elaborated that the current global landscape is marked by a transition where technological advancements drive innovation, ethical standards build trust, and sustainability will shape the future of finance. “These three dimensions—digitalization, ethics, and sustainability—are not separate pillars; they form the foundation of a modern, inclusive, and resilient capital market,” he stated.
Dr. Agama noted that technological advancements are fundamentally transforming capital markets worldwide, with examples including the rise of online trading platforms, digital assets, data analytics, blockchain technology, and artificial intelligence. The SEC is seizing digital transformation as an opportunity to improve efficiency, transparency, and investor protection within the Nigerian market.
“We are strengthening our market surveillance systems, automating regulatory processes, and introducing risk-based supervision frameworks—all aimed at positioning the Nigerian capital market for the realities of a digital economy,” he explained.
Furthermore, the SEC is collaborating closely with market stakeholders, including the CIS, to enhance digital literacy and develop capacity throughout the market. “As technology evolves, so must our skills, our ethics, and our shared commitment to fairness and professionalism,” Agama remarked.
He recognized the CIS as a vital partner in fostering professionalism, establishing standards, and enforcing ethical codes that delineate the stockbroking profession. “As regulators, we continue to emphasize that professionalism and ethical conduct are non-negotiable,” he asserted. “Together, the SEC and the CIS must persist in strengthening ethics education, continuous professional development, and disciplinary frameworks to ensure that the market remains a place of trust.”
Dr. Agama”s comments reflect the SEC”s broader commitment to fostering a transparent, innovative, and investor-friendly environment within the Nigerian capital market, aiming to drive sustainable economic growth.
