Speaking during an appearance on Moneyline with Nancy, Agama noted that mobile investment platforms have simplified access to stocks and other capital market instruments, leading to increased interest from younger investors.
According to him, the SEC will release new data on retail investor participation by the end of 2026, providing detailed insights into the changing demographics of investors and their impact on market growth.
Agama disclosed that a nationwide survey on investor behaviour is currently underway, adding that preliminary indicators point to growing interest in the capital market.
“One of the things we will do at the year-end, 2026, is to provide new data. That survey is underway, so it would be premature to provide you with information. But beyond all of that is the fact that there is a new wave and a new interest in the Nigerian capital market, and that we must sustain,” he said.
The SEC chief attributed the market’s recent growth to regulatory reforms, support from President Bola Tinubu’s administration, and deliberate efforts by the Commission to make the capital market more accessible.
He highlighted the strong performance of the market, revealing that the Nigerian Exchange (NGX) All-Share Index has surpassed 250,000 points, the highest level in its history.
Market capitalization has also risen significantly to N161 trillion from N55 trillion when the current SEC leadership assumed office, while the capitalization-to-GDP ratio has increased from 13 per cent to over 33 per cent.
Agama further noted that the Commission has issued more than 130 advisories on Ponzi schemes as part of its investor education and market protection initiatives.
Despite the progress, he acknowledged that retail participation remains relatively low compared to Nigeria’s population of over 220 million people. However, he insisted that the narrative is changing as more Nigerians embrace investment opportunities through digital platforms.
“Before this time, the information that was available suggested that not so many people were investing in the market. That is the old story. It’s completely changing,” he said.
According to the SEC DG, more than 30 investment apps are currently active in Nigeria, contributing to increased daily transactions on the Nigerian Exchange and expanding retail investor participation.
Agama also highlighted the Commission’s efforts to modernise market infrastructure through the implementation of the T+1 settlement cycle. Nigeria moved from T+5 to T+3, then to T+2 in November 2025, before completing the transition to T+1 six months later.
He explained that the system enables investors to receive proceeds from transactions within one business day, improving liquidity and allowing for faster reinvestment.
The transition, he said, aligns with the objectives of the Investments and Securities Act 2007 and the Capital Market Master Plan 1.0, as the SEC shifts its focus toward strengthening institutions and expanding retail investor participation across the country.
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