The National Assembly has praised the Securities and Exchange Commission for its efforts in boosting fiscal stability through efficient cost control and higher revenue collection. Hon. Saeed Musa Abdullahi, Deputy Chairman of the House Committee on Finance, shared this feedback during a 2026 revenue review session held in Abuja.
During the meeting, Abdullahi lauded the commission’s recent performance and encouraged the leadership to maintain this positive trajectory. He clarified that the oversight review is meant to drive operational success rather than target specific agencies, particularly during Nigeria’s current economic period. The lawmaker further challenged the SEC to exceed its 2026 financial targets by at least 20 percent.
Dr. Emomotimi Agama, the Director-General of the SEC, noted that the commission operates under the financial independence standards set by the International Organization of Securities Commissions. He clarified that the agency does not receive government funding but instead contributes to the state treasury. According to Dr. Agama, statutory government deductions occur automatically when funds reach the commission’s account at the Central Bank of Nigeria.
To maintain necessary operational standards, the commission obtained permission from the Minister of Finance to retain 20 percent of its generated income. Dr. Agama emphasized that this financial arrangement allows the agency to function effectively as a regulator. Additionally, he shared that the SEC has obtained a grant from the African Development Bank to implement a sophisticated market surveillance system before the end of the year.
