By
Emomotimi Agama has been officially confirmed as the Director-General of the Securities and Exchange Commission (SEC) by the Nigerian Senate, effectively replacing Lamido Yuguda who had served as SEC DG since May 2020.
Agama is a relatively less popular figure than Lamido Yuguda who shares the same last name with former Bauchi State Governor, Isa Yuguda.
However, Mr Agama currently possesses about 20 years working experience with SEC, having joined the organization in 2004.
SEC, the primary regulatory body of the Nigerian capital market, operates under the supervision of the Federal Ministry of Finance. While the Nigerian Stock Exchange (NSE) is privately owned and self-regulated, SEC oversees it, ensuring fair and orderly securities dealings and safeguarding against insider trading abuses.
In addition to Agama’s confirmation, the Senate also approved other SEC appointments including Frank Chukwuogor as Executive Commissioner (Legal and Enforcement), Abimbola Ajomale as Executive Commissioner (Operations), and Samiya Usman as Executive Commissioner (Corporate Services).
The confirmation came following a report presented by Osita Izunaso, the Chair of the Senate Committee on Capital Markets, who highlighted the nominees’ qualifications and successful completion of security checks. Izunaso, representing Imo West, affirmed, “They were eminently qualified for the positions. They passed all security checks and answered relevant questions during the screening.”
Following Izunaso’s presentation, the Senate voted to confirm the nominees. Deputy Senate President Barau Jibrin urged the appointees to diligently carry out their duties for the nation’s benefit. He emphasized, “They should do their work in the best way they can to turn around the economy of Nigeria. They should try not to let Mr. President down or the nation. They should do their best to use that institution to promote the well-being of this country.”
