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By Daniel Adaji
The Securities and Exchange Commission (SEC) has charged stockbrokers to uphold professionalism and ethical conducts in the capital market.
The regulator noted that this would help sustain investor confidence and ensure a fair and transparent capital market.
According to a statement by the Commission on Sunday, the Director General of SEC, Dr. Emomotimi Agama, delivered the charge at the 29th Annual Conference of the Chartered Institute of Stockbrokers (CIS) held in Abuja.
He stressed that brokers must always demonstrate the highest levels of honesty, competence, and integrity in managing investors’ wealth.
“Investors must have full confidence that the intermediaries who manage their wealth are guided by the highest standards of honesty and competence,” Agama said.
He noted that the theme of this year’s conference—“Capital Markets in a Digital, Ethical, Sustainable Era: Pathways for Economic Transformation”—was both timely and relevant, reflecting the ongoing global transformation in which technology, ethics, and sustainability are shaping the future of finance.
“These three dimensions—digitalisation, ethics, and sustainability—are not separate pillars; they form the foundation of a modern, inclusive, and resilient capital market,” he stated.
Nigeria’s capital market has witnessed rapid evolution, driven by digital innovation, policy reforms, and increased investor participation. Yet, issues of transparency, unethical practices, and weak governance have continued to pose challenges to investor confidence.
Across the world, technological disruptions such as blockchain, artificial intelligence, and data analytics have redefined how financial markets operate. The SEC boss noted that Nigeria cannot afford to be left behind in this transformation, which offers both opportunities and risks.
“Across the world, capital markets are being reshaped by technological innovation. The digital era has introduced new possibilities—from online trading platforms and digital assets to data analytics, blockchain, and artificial intelligence. These innovations are changing how we raise capital, how we invest, and how we supervise,” Agama said.
He explained that the Commission has embraced technology to improve market efficiency and strengthen investor protection through initiatives such as automated regulatory processes, enhanced market surveillance systems, and risk-based supervision frameworks.
“The Commission has embraced this transformation as an opportunity to enhance efficiency, transparency, and investor protection,” he said. “Ongoing efforts to strengthen market surveillance systems, automate regulatory processes, and introduce risk-based supervision frameworks are all aimed at positioning the Nigerian capital market for the realities of a digital economy.”
Agama added that the SEC is also working closely with the Chartered Institute of Stockbrokers to build digital literacy and professional capacity across the market, stressing that innovation must be guided by ethics and responsibility.
“We are also actively engaging with stakeholders, including the Chartered Institute of Stockbrokers, to deepen digital literacy and capacity-building across the market,” he said.
“As technology evolves, so must our skills, our ethics, and our shared commitment to fairness and professionalism,” he added.
He warned that innovation alone cannot sustain market integrity without a strong ethical foundation.
”No amount of innovation can replace the foundational importance of ethics. A truly transformative capital market must be built on integrity, transparency, and accountability,” Agama stated.
The SEC DG commended the Chartered Institute of Stockbrokers for its continued partnership in promoting ethics and professionalism within the industry.
“The CIS has remained a key partner in this regard, setting professional standards and upholding the code of ethics that define the stockbroking profession,” he said.
He reaffirmed the Commission’s stance that professional integrity must remain the bedrock of the market’s credibility.
“As regulators, we continue to emphasise that professionalism and ethical conduct are non-negotiable. Together, the SEC and the CIS must continue to strengthen ethics education, continuous professional development, and disciplinary frameworks to ensure that the market remains a place of trust,” Agama said.