{"id":123296,"date":"2025-10-27T06:17:23","date_gmt":"2025-10-27T05:17:23","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=123296"},"modified":"2025-10-27T06:17:23","modified_gmt":"2025-10-27T05:17:23","slug":"nigeria-records-over-50bn-crypto-currency-transactions-in-one-year-sec-dg","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-records-over-50bn-crypto-currency-transactions-in-one-year-sec-dg\/","title":{"rendered":"Nigeria Records Over $50bn Crypto currency Transactions in One Year \u2013 SEC DG"},"content":{"rendered":"<div>By Daniel Adaji<\/div>\n<div>\u200e<\/div>\n<div>\u200eThe Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has revealed that over $50 billion worth of cryptocurrency transactions flowed through Nigeria between July 2023 and June 2024.<\/div>\n<div>\u200e<\/div>\n<div>\u200eSpeaking while presenting a lead paper titled \u201cEvaluating the Nigerian Capital Market Masterplan 2015-2025\u201d at the annual conference of the Chartered Institute of Stockbrokers, Agama expressed concern over the alarmingly low participation of Nigerians in the traditional capital market.<\/div>\n<div>\u200e<\/div>\n<div>\u200eIn a statement on Sunday he disclosed that fewer than four percent of the country\u2019s adult population are active investors, describing the low participation rate as a major impediment to economic growth and capital formation.<\/div>\n<div>\u200e<\/div>\n<div>\u200eAccording to him, while fewer than three million Nigerians invest in the capital market, more than 60 million engage daily in gambling activities, spending an estimated $5.5 million every day.<\/div>\n<div>\u200e<\/div>\n<div>\u200e\u201cThis reveals a paradox, an appetite for risk clearly exists, but not the trust or access to channel that energy into productive investment,\u201d he said.<\/div>\n<div>\u200e<\/div>\n<div>\u200eAgama also lamented that Nigeria\u2019s market capitalization-to-GDP ratio stands at about 30 percent\u2014far below South Africa\u2019s 320 percent, Malaysia\u2019s 123 percent, and India\u2019s 92 percent\u2014a disparity he said underscores the urgent need to deepen financial inclusion and rebuild investor confidence.<\/div>\n<div>\u200e<\/div>\n<div>\u200eRecalling the vision of the ten-year Capital Market Master Plan (CMMP) launched in 2015, the SEC boss noted that it was designed to reposition Nigeria\u2019s capital market as the engine of economic transformation by mobilizing long-term finance for infrastructure and enterprise development.<\/div>\n<div>\u200e<\/div>\n<div>\u200e\u201cToday, as we stand at the sunset of that ten-year plan, our task is not ceremonial; it is reflective and diagnostic. We must ask: what did we achieve, where did we fall short, and what lessons must anchor our next decade of reforms?\u201d he stated.<\/div>\n<div>\u200e<\/div>\n<div>\u200eAgama disclosed that less than half of the 108 initiatives under the CMMP were fully achieved, blaming limited alignment with national development plans, inadequate tracking metrics, and weak stakeholder ownership for the shortfall.<\/div>\n<div>\u200e<\/div>\n<div>\u200eDespite progress in areas such as Green Bonds, Sukuk, fintech integration, and non-interest finance, he said market liquidity remains concentrated in a few large-cap stocks like Airtel Africa, Dangote Cement, and MTN Nigeria.<\/div>\n<div>\u200e<\/div>\n<div>\u200eHe identified six key challenges for the next phase of reforms, including low retail participation, market concentration, falling foreign inflows, underutilized pension assets, untapped diaspora capital, and a widening infrastructure financing gap.<\/div>\n<div>\u200e<\/div>\n<div>\u200e\u201cNigeria\u2019s $150 billion annual infrastructure deficit far exceeds the market\u2019s contribution, with only N1.5 trillion approved in PPP bonds. This shows a misalignment between financial innovation and national priorities,\u201d he observed.<\/div>\n<div>\u200e<\/div>\n<div>\u200eThe SEC DG called for a \u201creimagined SEC\u201d that serves as both regulator and enabler of private-sector-driven growth, stressing that the next decade must focus on trust-building, transparency, and inclusion.<\/div>\n<div>\u200e<\/div>\n<div>\u200e\u201cVision without execution is inertia \u2014 and reform without measurement is aspiration without accountability,\u201d he stated.<\/div>\n<div>\u200e<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>By Daniel Adaji \u200e \u200eThe Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has revealed that over $50 billion worth of cryptocurrency transactions flowed through Nigeria between&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":123298,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-123296","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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