Nigeria’s Vice President, Kashim Shettima, has solicited the support of the Judiciary to grow the nation’s capital market through timely well-reasoned, timely, and technically sound delivery of verdicts on investment suits before the courts.
Shettima, who canvassed this support at the opening of a two-day Judges’ Workshop with the theme “Repositioning the Nigerian Capital Market for National Economic Transformation through Effective Dispute Resolution” and organized by the Securities and Exchange Commission (SEC) in Abuja.
He pointed out such timely handling of investment cases and delivery of judgments on them would send a positive signal to the market, thereby enhancing investor confidence and attracting capital to the local bourse.
Shettima, who was represented at the forum by the Special Adviser to the President on Economic Affairs (Office of the Vice President), Dr. Tope Fasua, described the capital market as the life-blood of any modern economy.
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He, however, maintained that delays, inconsistencies, or a lack of specialized understanding of investment issues by the Judiciary can inadvertently create systemic risks and forestall investment into the capital market.
Shettima said that the theme of the workshop was not merely a topic for discussion but a clarion call, “a strategic imperative that resonates deeply with the economic agenda of this administration. It underscores the undeniable truth that a robust, efficient, and trustworthy capital market is the bedrock upon which sustainable national economic transformation can be built”.
He clarified: “Capital market is far more than just a platform for buying and selling securities. It is the lifeblood of modern economies, a sophisticated ecosystem that mobilizes long-term capital for productive investments. 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 small and medium enterprises (SMEs) can scale, and where the dreams of entrepreneurs can take flight.
“In Nigeria, a nation brimming with potential and a youthful, dynamic population, the capital market holds an even greater significance. It is a critical tool for diversifying our economy away from over-reliance on a single commodity, fostering indigenous industrialization, and attracting both domestic and foreign direct investments. A well-functioning capital market can unlock latent wealth, deepen financial inclusion, and ultimately improve the living standards of our citizens. It is the conduit through which national savings are channeled into productive ventures, driving the wheels of progress and prosperity”, the Vice President added.
He pointed out that trust remained critical to attracting investments into the market, stressing that “investors, whether local or international, institutional or retail, will only commit their hard-earned capital where they are confident that their investments are secure, that transactions are transparent, and that their rights are protected. This confidence is built on a foundation of strong regulatory frameworks, efficient market operations, and, crucially, an effective and impartial system of dispute resolution”.
While acknowledging that disputes in the market arising from contractual breaches, market manipulation, insider trading, corporate governance infractions, or disagreements over interpretation of securities laws, is inevitable, Shettima maintained that resolving them swiftly, fairly, and expertly was critical to market growth.
In his address, the Chief Justice of Nigeria, Honourable Justice Kudirat Kekere-Ekun said the capital market was no longer a distant abstraction limited to high finance or institutional investors but has become a critical lever of economic participation and empowerment.
Represented by Justice of the Supreme Court, Hon. Justice Stephen Adah, the Chief Justice noted that like all vital systems, the capital market was also vulnerable.
Kekere-Ekun said: “The capital market is a repository of trust, but also a potential site of distortion. It is a platform for innovation, but also susceptible to fraud and regulatory arbitrage. 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.”
Earlier in his address, the Director General, Securities and Exchange Commission (SEC), Dr. Emomotimi Agama said the workshop was part of the Commission’s effort to engage the judiciary in all aspects of capital market operations following the enactment of the Investment and Securities Act (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. The ISA 2025 is a legislative success, a legal milestone and a reform that ushers in a new era for our capital market.
“By enacting this progressive law, Nigeria has taken a bold step toward fostering a more transparent, efficient, resilient and secure investment climate. The diligent efforts of the Executive and Legislative arms in ensuring the seamless passage of this Act reflect a shared commitment to economic growth, financial stability and sustainable development”, Agama added.
Speaking at the forum, Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, disclosed that the Commission had recently charged 58 unlicensed businesses operating pyramid schemes in Nigeria with two convictions secured.
The anti-graft expert harped on the importance of updating the knowledge and understanding of the judiciary given the constant changes in the operation of the capital market space including the trading of digital assets.
He said: “You are aware of the ongoing cases we have in courts against Binance, CBEX and other related cases with respect to financial and investment frauds. It has come to a point in Nigeria where it has become very important for us to understand the intricacies involved in some of these emerging issues in virtual assets.”
Photo Caption
L-R: Representative of the Chief Justice of Nigeria (CJN), Justice Stephen Jonah Adah, representative of the Vice President, Dr. Tope Fasua; Chairman Senate Committee on Capital Market, Sen. Osita Izunaso, and Director-General of Securities and Exchange Commission (SEC), Dr Emomotimi Agama, during a 2- Day Workshop on Capital Market Law, Ethics and Judicial Interpretation for Judges held on Monday in Abuja
