The Director General of the Securities and Exchange Commission (SEC), Mr Emomotimi Agama, has called for the urgent need to close the financial inclusion gender gap in the country.
The SEC chief, who was a guest speaker at the United Capital Asset Management Investment Forum in Lagos on Wednesday, disclosed that doing this could lift about 700,000 Nigerians out of poverty.
“Nigeria has a great population, yet only a tiny fraction participates in the capital market. That is one reason for persistent poverty: we are running from money,” he stated.
Mr Agama further said, “We need to educate people about finances. As we drive this market, we do so with a purpose. I enjoin everyone to be both disciples and apostles. Getting this market to move is a deliberate action.”
The DG also emphasised the importance of investing in knowledge and wealth to bridge Nigeria’s growing inequality gap, noting that true financial inclusion means active involvement in the capital market, where access is paired with empowerment, allowing capital to become a transformative tool.
He stated that, “Our market capitalisation presents a tremendous opportunity to change this narrative,” praising the impact of MTN Nigeria’s recent share offering, which attracted 150,000 new investors, 75 per cent of whom were women and 85 per cent under the age of 40.
To accelerate progress, the SEC boss suggested a four-pillar strategy that includes democratising financial knowledge, catalysing MSME investment channels, and partnering with institutions like the Bank of Industry to de-risk loans for women-led SMEs.