- SEC seeks stronger venture capital regulation to boost business growth
Equities trading on the Nigerian Exchange Limited began the week on a positive note, with the All-Share Index increasing by 0.32 percent to 97,236.19 points, raising market capitalization by ₦83.7 billion to a total of ₦59 trillion.
The year-to-date return now stands at 30.23 percent.
Sectoral performance was mixed as the banking, consumer goods, and industrial sectors declined by 0.81 percent, 0.10 percent, and 0.03 percent, respectively, while the insurance and oil/gas sectors rose by 0.23 percent and 0.16 percent.
In total, 24 stocks advanced while 27 declined. Top gainers included EUNISELL, ARADEL, JOHNHOLT, DEAPCAP, and CUSTODIAN, while UCAP, SOVRENINS, PRESTIGE, CONHALLPLC, and TRIPPLEG were among the key decliners.
Trading activity was generally subdued, with volumes and values dropping by 37.82 percent and 20.21 percent, respectively, though the number of trading deals increased by 9.84 percent.
A total of 297.83 million shares were traded across 9,902 transactions, amounting to ₦7.52 billion. STERLINGNG led in volume, with 36.1 million shares worth ₦180.9 million across 168 trades.
SEC seeks stronger venture capital regulation to boost business growth
Meanwhile, the Securities and Exchange Commission has advocated for a reinforced regulatory framework to support venture capital and private equity firms in Nigeria, with the goal of driving economic growth and empowering the nation’s entrepreneurial ecosystem.
Speaking at the annual conference of the Institute of Capital Market Registrars in Lagos, the Director General of the SEC, Emomotimi Agama, emphasised that Nigeria needs a robust capital market in order to take advantage of new opportunities and manage global issues.
As Nigeria deals with inflation, falling oil prices, and currency volatility, Agama said, “The capital market is both the backbone and barometer of a healthy economy.”
He emphasised the need to develop the market.
Agama highlighted the potential for a vibrant venture capital and private equity sector to catalyze growth in emerging industries, attracting both domestic and foreign investors.
“By channeling our resources into Nigerian enterprises, we lay the groundwork for a sustainable, resilient growth model,” he said, underscoring the need to bolster the regulatory environment for these firms to enhance their operational efficiency and investor appeal.
Furthermore, Agama stated that a vibrant capital market promotes economic resilience by transforming domestic savings into productive investments, reducing dependency on foreign capital and fostering self-reliance.
“The capital market encourages domestic savings and channels them into productive investments,” he said, noting that these investments drive corporate growth, infrastructure development, and job creation.
Agama also emphasised the importance of modernising the capital market, asking for the implementation of technology and fintech solutions to promote accessibility and efficiency.
He cited the SEC’s regulatory sandboxes for fintech startups as important moves towards encouraging innovation. “Our youthful, tech-savvy population presents a unique opportunity,” he said, emphasising the significance of matching market advances with local requirements to drive financial inclusion across Nigeria.
In his final remarks, Agama asked stakeholders to create a capital market that not only generates money, but also supports economic stability and opportunities for all Nigerians.
