TO strengthen investor confidence in Nigeria’s capital market, the Securities and Exchange Commission (SEC) has called on market operators and institutions to be transparent and accountable.

The Director General, Emomotimi Agama, made the call at a stakeholder engagement on internal control over financial reporting in the public sector, according to a statement issued on Sunday, August 24, by the SEC.

The engagement, focused on ‘Strengthening Accounting and Transparency through ICRC,’ was organised by Smith Ighodalo Adewale Odiachi, SIAO under the Internal Control over Financial Reporting (ICFR), in collaboration with the Financial Reporting Council (FRC).

The Director General stressed that proper internal control mechanisms over financial reporting are essential for market integrity and investor trust.

“Internal control over our financial reporting is a critical part of disclosures. Whether in the securities market, for public companies, or other organisations, these controls strengthen accountability, transparency, and integrity within the financial system,” Agama said.

He said investors’ confidence is closely tied to market operators’ and financial institutions’ transparency and accountability.

“For investors, what matters is knowing that there is accountability, that people are doing what they ought to do, and that stewardship is being upheld.

“When investors see that management is committed to these principles, they are more likely to invest,” Agama said.

Hinting at the recently passed Investment and Securities Act (ISA) 2025, he described it as a milestone in capital market reform.

The ISA 2025 has introduced key reforms aimed at fostering a more transparent and efficient market.

“We are already seeing improved investor sentiment and increased confidence in the system.”

The ICIR reported that President Bola Tinubu signed the ISA 2024 into law on March 25 this year.

The Act is aimed at strengthening the financial sector as the country pushes toward achieving a $1 trillion economy by 2030.

It repeals and consolidates several outdated insurance laws into a single, modern legal framework, providing for comprehensive regulation and supervision of all insurance and reinsurance businesses operating within Nigeria.