The National Assembly has commended the Securities and Exchange Commission for strengthening its financial position through cost management and improved revenue collection.
Speaking during the 2026 Revenue Monitoring Exercise in Abuja, Deputy Chairman of the House Committee on Finance, Hon. Saeed Musa Abdullahi, praised the commission’s progress and encouraged it to exceed its 2026 revenue projections by at least twenty percent.
SEC Director General Dr. Emomotimi Agama explained that, in line with global principles for securities regulators, the commission is expected to operate independently, but currently receives no direct budgetary allocation from the federal government. Instead, it funds its operations from capital market income while still remitting a share of that income to government coffers, with statutory deductions applied automatically once funds reach its account with the Central Bank of Nigeria.
To ease the financial strain this creates, Agama said the commission secured ministerial approval to retain twenty percent of its income rather than seeking additional funding from market participants. He also disclosed that the SEC has obtained a grant from the African Development Bank to acquire a modern market surveillance system, expected to be deployed this year.
