Shettima Declares Capital Market Nigeria’s Escape Route from Oil Dependence.
Vice President Kashim Shettima has declared the Nigerian capital market as the nation's most strategic weapon to break free from the shackles of overdependence on crude oil, urging stakeholders to embrace its transformative potential in driving industrial growth and attracting critical investments.
Speaking through the Special Adviser to the President on Economic Matters, Tope Fasua, at the opening of a capacity-building workshop in Abuja for judges of superior courts, Shettima stressed that the capital market is more than a trading ground—it is the lifeblood of modern economies. The workshop, organised by the Securities and Exchange Commission and the National Judicial Institute, brought together judges, lawmakers, regulators, and experts to examine judicial efficiency and dispute resolution within Nigeria’s financial ecosystem.
According to the Vice President, the capital market has the capacity to deepen financial inclusion, unlock hidden wealth, and channel national savings into productive sectors. He described it as an indispensable driver of infrastructure, innovation, job creation, and economic stability.
Highlighting the theme of the event, “Repositioning the Nigerian Capital Market for National Economic Transformation through Effective Dispute Resolution,” Shettima said it aligns perfectly with the Tinubu administration’s economic priorities. He maintained that only a capital market offering long-term instruments—not short-term bank loans—can provide the patient capital needed to drive sustainable national development.
Shettima also warned that trust remains the market’s lifeline. Without transparency, strong regulation, and fair dispute resolution, investor confidence will collapse. He said the government recognises issues affecting the sector, such as limited liquidity and poor investor education, but assured of continuous reforms to keep pace with global financial shifts.
Echoing this stance, the Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun, represented by Justice Stephen Adah of the Supreme Court, described the capital market as a tool of national empowerment that affects ordinary citizens, from retirees and tech entrepreneurs to diaspora investors and small-scale traders. She noted the judiciary must evolve to effectively handle emerging financial trends including digital assets, green finance, and cryptocurrencies.
The CJN called on judges to adapt legal interpretations to the realities of modern commerce while safeguarding the principles of fairness and justice. She emphasised that judicial decisions impact far more than individual cases—they shape investor behaviour and influence the economy’s direction.
The Director General of SEC, Dr. Emomotimi Agama, lauded the passage of the Investments and Securities Act, 2025, describing it as a turning point for market regulation. He reaffirmed SEC’s dedication to restoring investor confidence and broadening public participation in national wealth creation.
EFCC Chairman, Ola Olukoyede, added a note of urgency by pointing to the growing global relevance of digital assets, revealing that such investments accounted for nearly 10% of global GDP in 2023 and are projected to hit 14.5% by 2026. He cited cases involving unlicensed crypto platforms like Binance and CBEX, urging the judiciary to prepare for an influx of complex, tech-driven cases and unfamiliar financial terms.
Olukoyede also disclosed that 58 companies had been charged for running illegal investment schemes in Nigeria, with 12 already convicted. He called for judicial cooperation in curbing such financial crimes and protecting Nigerians from fraud.
On the legislative front, Senator Osita Izunaso announced that a bill is underway to elevate the Investments and Securities Tribunal into a full-fledged court. This would empower it with greater legal authority and improve adjudication efficiency in financial matters.
As Nigeria braces for economic transformation in a fast-evolving global financial landscape, the consensus among stakeholders at the event was clear: the capital market is no longer optional—it is essential.