The Director-General of Nigeria’s Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has called for greater involvement of lawyers and solicitors in the nation’s capital market, stressing their indispensable role in the country’s economic growth.
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Dr. Agama made these remarks during his keynote address at the annual business summit of the Capital Market Solicitors Association (CMSA) held at the Oriental Hotel, Victoria Island, Lagos, on Thursday, June 6th, 2024.
Speaking under the theme “Revolutionizing the Nigerian Capital Market Through Innovative Financial Instruments for Sustainable Development,” Dr. Agama urged industry practitioners to work together to achieve sustainable development within the rapidly evolving financial sector. He emphasized that the federal government is actively working to improve and promote the nation’s business environment, and that new trends aimed at revolutionizing the capital market are always welcome, while global best practices must be upheld.
Mallam Attahiru Maccido, Managing Director of One17 Capital, highlighted the importance of solicitors in all forms of business contracts, including non-interest financial transactions. He maintained that all products of non-interest banking and financial transactions are legal documents as long as they uphold religious tenets.
Mrs. Elizabeth Ekpo, a senior manager with PricewaterhouseCoopers Nigeria, called for a legal balance between policy and the drive for profit to avoid potential issues. She also advocated for a level playing field where investors, solicitors, stockbrokers, and other financial sector players can meet to exchange ideas.
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In his welcome speech, Vincent Iweze, chairman of the CMSA, emphasized the need for collaboration among financial sector players to identify and develop solutions and innovations that will take the capital market to the next level, given the recent developments within the sector.
The summit also featured goodwill messages from Senator Osita Izunaso, Chairman of the Senate Committee on Capital Market, Chief Anthony Idigbe SAN, Chairman of the Board of Trustees of CMSA, and other distinguished personalities.
As Nigeria’s capital market continues to evolve, the role of solicitors and lawyers in ensuring legal compliance and promoting innovation remains crucial for the nation’s economic growth and sustainable development.
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