The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has identified fintech applications, predominantly utilized by a growing demographic of young Nigerians, as a primary driver of capital market expansion. Speaking on the program Moneyline with Nancy, Dr. Agama revealed that early indicators point to a new wave of interest fueled by young investors leveraging digital investment platforms.
This surge in participation from younger investors is attributed to the increasing adoption of mobile trading platforms, which simplify access to stocks and other capital market instruments. The SEC plans to publish comprehensive data on retail investor participation in Nigeria’s capital market by the end of 2026, offering detailed insights into this demographic shift and its implications for market growth. Dr. Agama credited the market’s recent performance to regulatory reforms, presidential support, and the SEC’s focused commitment to building a more accessible capital market. A nationwide survey on investor behavior is currently underway.
The Nigerian Exchange All-Share Index has surpassed 250,000 points, marking an all-time high, while market capitalization has climbed to N161 trillion from N55 trillion when the current SEC leadership assumed office—a nearly threefold increase. Market depth has improved, with the capitalization-to-GDP ratio rising from 13% to over 33%. The Commission has also issued over 130 advisories on Ponzi schemes as part of ongoing investor education efforts. Despite these gains, retail participation remains low relative to Nigeria’s 220 million population. Dr. Agama rejected the notion that the market refuses to be a mass market, emphasizing that fintech adoption is reshaping participation. Over 30 investment apps are now active, driving higher daily transactions on the Nigerian Exchange.
While non-investors still outnumber investors—a trend observed in sophisticated markets globally—young Nigerians are increasingly participating, reshaping the demographic profile of retail investors. Dr. Agama also highlighted the SEC’s role in modernizing payment systems, including the rollout of T+1 settlement. Nigeria transitioned from T+5 to T+3, then T+2 in November 2025, and completed the shift to T+1 six months later. This move aligns with the Investments and Securities Act 2007 and the Capital Market Master Plan 1.0, which set T+1 as a milestone. In related developments, Shell Executives Ignored calls for greater transparency in local operations, while Nigerian Oil & gas sector reforms continue to attract attention. Meanwhile, Dangote Refinery Surpasses production targets, boosting domestic fuel supply, and discussions around Nigeria State Police: remain ongoing to address security challenges. Additionally, the Naira Strengthens Below key exchange rate thresholds, reflecting improved market confidence.
