The Securities and Exchange Commission (SEC) has warned that Nigeria must leverage its youthful population to advance financial inclusion through investment or risk worsening inequality by 2030.
The SEC Director-General, Dr. Emomotimi Agama, issued the warning while delivering a keynote address at the United Capital Asset Management Investment Forum held in Lagos.
His presentation, titled “Advancing Financial Inclusion through Investments: Bridging Nigeria’s Knowledge and Wealth Gap,” emphasized that financial inclusion is not just aspirational but essential for national survival.
“We stand at a pivotal moment. By 2030, Nigeria can either harness its demographic dividend or face deepening inequality,” Agama said.
“The knowledge-wealth gap is not just economic—it’s a moral imperative.”
He called for a redefinition of inclusion as “active financial involvement,” where empowerment and access go hand-in-hand, with capital serving as a tool for transformation.
Agama highlighted the capital market’s untapped potential, noting that few Nigerians currently participate despite the country’s large population.
He cited MTN Nigeria’s share offer, which attracted 150,000 new investors—75% of them women and 85% under age 40—as an example of what is possible when access meets opportunity.
“Closing the financial inclusion gender gap alone could lift 700,000 Nigerians out of poverty,” he noted.
To bridge the knowledge and wealth gap, Agama proposed a four-pillar strategy:
1. Democratise Financial Knowledge
2. Catalyse MSME Investment Channels
3. Promote Blended Finance Vehicles (in partnership with Bank of Industry to de-risk loans for women-led SMEs)
4. Deliberate and Inclusive Market Growth
He reaffirmed the SEC’s commitment to protecting investors, ensuring fairness, and growing the market for all Nigerians.
“We must drive this market deliberately—with purpose and with principles of equity,” he said.
Reporting by Sherifat Oyediran