The Nigerian Senate has confirmed Emomotimi Agama as the director-general of the Securities and Exchange Commission (SEC), the apex regulator of Nigeria’s Capital Market.
President Bola Tinubu had written the Senate to screen and confirm four persons appointed as board members of the Commission (SEC) including Frana Chukwuogor (Enugu), Ambibola Ajomale (Ogun) and Samiya Hassan-Usman (Kano).
They were confirmed Thursday dur8jg plenary session after the upper chamber considered the report of the committee on Capital Markets led by Osita Isunazo.
While Agama was appointed as Director-General and Chukwuogor will serve as Executive Commissioner (Legal and Enforcement) of the Security and Exchange Commission. Ajomale was appointed as Executive Commissioner (Operations) while Hassan-Usman was appointed as Executive Commissioner (Corporate Services).
In April, President Tinubu approved the appointment of seven persons as members of the SEC pending their confirmations by the Senate. But, only four names were transmitted to the Senate for confirmation and Tinubu did not give reasons for not including the names of the other three professionals.
The President explained that the appointment complied with the provisions of section of section (1) of the Investment and Security Act of 2007.
“Confirmation of appointment of the Director-General and Commissioners of the Securities and Exchange Commission.
By the provision of sections 3 and 5 (1) of the investment and SInvestmentt of 2007. I am pleased to present for confirmation by the Senate, the under-listed four nominees as Director-General and Commissioners of Securities and Exchange Commission” he said.
The president urged the lawmakers to expedite the screening and confirmation process.
