How Capital Market Solicitors Can Drive Nation’s Economic Growth – Dr. Agama

The Director General of Nigeria’s Securities and Exchange Commission (NSE), Dr. Emomotimi Agama has emphasized the evolving role of lawyers in financial transactions during his keynote address at the Capital Market Solicitors Association (CMSA) Annual Business Summit.

The summit which held on June 6th, 2024, at the Oriental Hotel in Victoria Island, Lagos, focused on the theme “Revolutionizing the Nigerian Capital Market Through Innovative Financial Instruments for Sustainable Development.”

Dr. Agama pointed out that the era when financial transactions were solely handled by financial experts while lawyers were sidelined is over. He urged lawyers to assert their roles in the capital market, highlighting the necessity for unity among industry practitioners. He stressed that sustainable development in the rapidly evolving financial sector could only be achieved through the collaborative efforts of all stakeholders.

The NSE Boss also highlighted the federal government’s ongoing efforts to transform, enhance, and promote the nation’s business environment. He welcomed new trends aimed at revolutionizing the capital market, emphasizing the commitment to upholding global best practices.

In his contribution, Mallam Attahiru Maccido, Managing Director of One17 Capital, addressed the importance of solicitors in all business contracts, including non-interest financial transactions. He noted that the products of non-interest banking and financial transactions are essentially legal documents, as long as they adhere to religious tenets.

Mrs. Elizabeth Ekpo, a senior manager with PricewaterhouseCoopers Nigeria, in her address, stressed the need for a legal balance between policy and profit to avoid potential pitfalls. She called for a level playing field where investors, solicitors, stockbrokers, and other financial sector participants could meet and exchange ideas.

In his welcome speech, the Chairman of the Capital Market Solicitors Association, Vincent Iweze, underscored the necessity for collaboration among financial sector players. He urged them to work together to identify and develop solutions and innovations that would propel the capital market to new heights.

The summit also featured goodwill messages from several notable figures, underscoring the importance of this kind of seminal engagements. Senator Osita Izunaso, Chairman of the Senate Committee on Capital Market, conveyed his support for the initiatives canvassed and discussed.

Chief Anthony Idigbe SAN, Chairman of the Board of Trustees of the Capital Market Solicitors Association (CMSA), also shared his positive remarks. Numerous other distinguished personalities were present to lend their voices and support to the ongoing efforts to revolutionize Nigeria’s capital market.