Capital Market Solicitors Are Indispensable in Nation’s Economic Growth

The Director General of Nigeria’s Security and Exchange Commission (SEC), Dr Emomotimi Agama, has disclosed that gone are the days where financial transactions and deals are carried out only by financial experts, while Lawyers and Solicitors are relegated to the background, while urging Lawyers to take their place in the capital market.

Dr Agama made this remark in his Keynote Address at the Annual Business Summit of the Capital Market Association, which was held at the Oriental Hotel, Victoria Island, Lagos on Thursday, June 6th, 2024.

Speaking on the theme “Revolutionising the Nigerian Capital Market through Innovative Financial Instruments for Sustainable Development’’, Dr Agama called for unity amongst industry practitioners, as sustainable development cannot be achieved within the fast-developing financial sector if stakeholders cannot work together.    

He further stated that the Federal Government is doing a lot on its side to change, improve, and promote the nation’s business environment and that evolving new trends aimed at revolutionising the capital market are always welcome, while global best practices in the capital market would always be upheld

Also speaking at the Summit, the Managing Director of One17 Capital Mallam, Attahiru Maccido, said that Solicitors are important in all forms of business contracts, including non-interest financial transactions. He maintained that all the products of non-interest banking and financial transactions are legal documents, in as much as they are seen to uphold religious tenets.

Also speaking Mrs Elizabeth Ekpo, a Senior Manager with PricewaterhouseCoopers Nigeria, called for a legal balance in policy and the drive for profit, so as not to run into troubled waters. She further called for a level playing field where investors interested in various fields of the economy, solicitors, stockbrokers, and other players in the financial sector can meet to cross-pollinate ideas.

In his welcome speech, the Chairman of the Capital Market Solicitors Association, Vincent Iweze, stated that given the new development within the sector, there was a need for players in the financial sector to work together, identify and come up with solutions and innovations that will move the capital market to the next level.

There were goodwill messages from Senator Osita Izunaso, Chairman, Senate Committee on Capital Market; Chairman Board of Trustees of CMSA, Chief Anthony Idigbe, SAN, as well as many other distinguished personalities.