The group is expected to develop practical recommendations to improve trading efficiency, deepen participation and enhance price discovery.
Among its mandates are a comprehensive review of trading and settlement infrastructure, identification of technical and structural bottlenecks affecting transaction speed, and proposals to make Nigeria’s settlement cycle more competitive with other emerging markets.
The group is also expected to recommend measures to broaden retail participation, with the SEC targeting the onboarding of up to 20 million new investors through digital platforms, dematerialisation of share certificates and fintech partnerships.
Agama noted that product innovation would also be central to improving liquidity, particularly through the accelerated development of derivatives and other asset classes that can provide hedging opportunities and deepen market activity.
He added that the recently enacted Investments and Securities Act (ISA) 2025 has expanded the Commission’s regulatory oversight to include digital assets, creating an opportunity to channel speculative interest into regulated and productive investment channels.
Emphasising the strategic importance of the sector, the SEC DG said it plays a critical role in financing infrastructure, supporting businesses and driving job creation.
“The capital market is not gambling; it is the engine of national development. It finances roads, powers factories and creates jobs,” he said.
Agama urged members of the Working Group to produce bold and practical recommendations that would strengthen liquidity and support the federal government’s broader ambition of building a trillion-dollar economy.
He added that while the recent surge in market capitalisation and GDP contribution reflects strong progress, the next phase of reforms would focus on ensuring that the market is not only large, but deep, inclusive and globally competitive.
In his remarks, chairman of the Committee and Group CEO of NGX, Mr. Temi Popoola thanked the SEC for the opportunity and assured the DG that the team understands its mandate and will diagnose structural constraints with candour, align on practical reforms, and deliver measurable actions that will deepen liquidity, restore confidence, and strengthen the resilience of our market.
