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The Capital Market Solicitors Association (CMSA) has held its 2026 Annual Business Summit in Lagos, with stakeholders calling for stronger institutional frameworks, improved regulatory coordination, and deeper reforms aimed at strengthening investor confidence and ensuring long-term stability in Nigeria’s capital market.
The summit, themed “Structural Resilience and Market Permanence,” brought together regulators, legal practitioners, policymakers, and financial market operators to examine strategies for sustaining capital market growth beyond short-term bullish cycles. Discussions focused on governance reforms, financial innovation, dispute resolution mechanisms, and the role of legal professionals in safeguarding market integrity.
In his remarks, Chairman of the Planning Committee, Muhammed Abubakar SAN, said the summit was conceived to produce policy-oriented outcomes that would reinforce market stability and promote sustainable capital formation. He noted that legal practitioners play a critical role in shaping investor confidence through advisory services, compliance structures, and dispute resolution support.
Abubakar urged greater collaboration among regulators, financial institutions, and legal professionals, emphasizing that capital market development requires coordinated action across all segments of the financial ecosystem.
He also highlighted the importance of recent legislative and regulatory reforms in strengthening the market environment, noting that improved enforcement and clearer legal frameworks have contributed to increased investor participation and confidence.
Chairman CMSA, Simisola Eyisanmi, described the association as a platform of solicitors and commercial law firms engaged in capital market practice, established to advance professional standards within Nigeria’s investment and securities ecosystem. She said the 2026 edition was designed to shift attention from speculative market gains to structural reforms capable of sustaining long-term development.
Eyisanmi explained that the summit would explore critical issues such as regulatory efficiency, capital adequacy, trading systems, sustainable finance, governance structures, and technological integration. She stressed that the goal was to generate actionable recommendations for strengthening Nigeria’s financial markets and improving investor protection.
She also clarified the distinction between the capital market and the stock exchange, noting that while exchanges such as the Nigerian Exchange Group provide trading platforms, the broader capital market includes institutions such as issuing houses, custodians, investment banks, and advisers operating under the oversight of the Securities and Exchange Commission Eyisanmi further advised investors to ensure that financial institutions handling funds are duly licensed by the Central Bank of Nigeria, warning that regulatory compliance remains central to protecting the public and maintaining trust in the financial system.
She added that the association is working closely with the Investment and Securities Tribunal to strengthen awareness of dispute resolution mechanisms available to investors.
According to her, the tribunal remains a key institution for resolving capital market disputes efficiently and professionally.
A key technical session at the summit also featured a presentation on the role of the Investments and Securities Tribunal, delivered by its Chairman, Hon. Junaidu Aminu. He explained that the tribunal was established to address longstanding inefficiencies in capital market dispute resolution and to provide a specialised forum for investor-related cases.
Aminu noted that the tribunal handles both original and appellate jurisdiction cases involving issues such as regulatory sanctions, misappropriation of funds, listing disputes, and compliance breaches.
He stressed that the institution plays a stabilising role in ensuring discipline and transparency within the financial system.
He further disclosed that the tribunal operates under strict timelines aimed at ensuring speedy resolution of disputes, typically within three months, and continues to adopt reforms to enhance efficiency and accessibility.
Delivering the keynote address on behalf of the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, Legal Compliance Special Adviser Chimdalu Omaliko-Nwosu said Nigeria’s recent market rally reflects growing investor confidence driven by ongoing macroeconomic reforms.
She explained that policy shifts including exchange rate unification, subsidy removal, and tax reforms have contributed to improving fiscal stability and restoring predictability to the economy. However, she cautioned that such gains must be consolidated through strong institutions and consistent policy implementation.
According to her, sustainable capital market growth depends on legal certainty, institutional consistency, corporate governance, and deeper financial market development, including expansion of bond markets and derivatives trading.
She further emphasized that capital market solicitors play a crucial role in bridging policy and practice, advising clients, and ensuring that regulatory frameworks translate into real market confidence.
Across all sessions, speakers consistently underscored the need to move beyond cyclical market optimism and build a resilient financial system anchored on law, transparency, and institutional discipline.
The summit is expected to produce recommendations aimed at strengthening Nigeria’s capital market architecture, improving investor protection, and positioning the country for stronger integration into global financial systems.
