By Chukwuma Umeorah
Vice President Kashim Shettima has called on the Nigerian judiciary to support the growth of the capital market by delivering judgments that are timely, well-reasoned, and technically sound, warning that judicial inefficiencies could deter investment and threaten market stability.
Speaking at the opening of a two-day Judges’ Workshop organised by the Securities and Exchange Commission (SEC) in Abuja, Shettima, represented by the Special Adviser to the President on Economic Affairs, Tope Fasua said such verdicts would send strong positive signals to investors and enhance confidence in Nigeria’s financial ecosystem.
The workshop, themed “Repositioning the Nigerian Capital Market for National Economic Transformation through Effective Dispute Resolution,” is part of efforts to strengthen legal and regulatory support for the newly enacted Investment and Securities Act (ISA) 2025.
According to Shettima, the capital market is far more than just a platform for trading securities; it is a critical engine for national development. “It connects savers with investors, providing the necessary liquidity for businesses to expand, innovate, and create jobs. It is where infrastructure projects find funding, where SMEs can scale, and where the dreams of entrepreneurs can take flight,” he stated.
He said for a country like Nigeria, with a youthful and dynamic population, the capital market holds enormous potential in helping diversify the economy from oil dependency, deepen financial inclusion, and attract both domestic and foreign direct investments.
Shettima stressed the vital role of investor trust in the success of any capital market, noting that “confidence is built on a foundation of strong regulatory frameworks, efficient market operations, and, crucially, an effective and impartial system of dispute resolution.” He acknowledged that market disputes were inevitable; ranging from insider trading and market manipulation to corporate governance breaches and regulatory interpretation, but emphasized that resolving them swiftly and expertly was essential for market resilience and investor protection.
Chief Justice of Nigeria, Hon. Justice Kudirat Kekere-Ekun, said the capital market has evolved from being the exclusive preserve of institutional players to becoming a crucial tool for economic participation and empowerment.
Represented by Justice of the Supreme Court, Hon. Justice Stephen Adah, Kekere-Ekun warned that the capital market, while a repository of trust and innovation, is also susceptible to fraud and regulatory abuse.
“In this regard, the Judiciary has a profound role to play. Not as passive arbiters, but as active custodians of economic integrity and commercial justice,” she said, urging judges to view their role as integral to economic progress.
In his remarks, SEC Director General, Emomotimi Agama, described the workshop as part of the Commission’s strategy to deepen judicial understanding of capital market operations, especially in the wake of the new ISA 2025.
“This landmark legislation marks a significant milestone in Nigeria’s economic and financial sector, reinforcing investor confidence, strengthening regulatory frameworks and enhancing the nation’s position in global markets,” Agama said.
He praised the Executive and Legislative arms of government for their collaboration in passing the ISA 2025, calling it “a bold step toward fostering a more transparent, efficient, resilient and secure investment climate.”
Also speaking, Chairman of the Economic and Financial Crimes Commission (EFCC), Olanipekun Olukoyede, disclosed that the Commission had recently filed charges against 58 unlicensed entities engaged in pyramid schemes, with two convictions already secured.
Olukoyede emphasized the need for the judiciary to stay abreast of emerging trends in financial markets, including the growing prevalence of digital assets and virtual investment platforms.
“You are aware of the ongoing cases we have in courts against Binance, CBEX and other related entities. It has become very important for us to understand the intricacies involved in some of these emerging issues in virtual assets,” he said.