By Milcah Tanimu

The Nigerian Senate has confirmed Emomotimi Agama as the new Director-General of the Securities and Exchange Commission (SEC), the primary regulator of Nigeria’s capital market. President Bola Tinubu had previously written to the Senate, requesting the screening and confirmation of four appointees to the SEC board.

The confirmed appointments are as follows:
– *Emomotimi Agama* as Director-General
– *Frana Chukwuogor* (Enugu) as Executive Commissioner (Legal and Enforcement)
– *Ambibola Ajomale* (Ogun) as Executive Commissioner (Operations)
– *Samiya Hassan-Usman* (Kano) as Executive Commissioner (Corporate Services)

The confirmations took place during Thursday’s plenary session after the Senate considered the report from the committee on Capital Markets, chaired by Osita Isunazo.

In April, President Tinubu approved the appointment of seven individuals as members of the SEC board, pending Senate confirmation. However, only four names were forwarded for confirmation, with no explanation provided for the exclusion of the other three nominees.

The President emphasized that the appointments comply with section 3(1) of the Investment and Securities Act of 2007. He urged the Senate to expedite the screening and confirmation process for the nominees.

The confirmation of these officials is expected to strengthen the SEC’s role in regulating Nigeria’s capital market, enhancing its operations and enforcement capabilities.