The House of Representatives Committee on Finance has endorsed the Securities and Exchange Commission’s (SEC) efforts to improve fiscal sustainability through cost reduction and increased revenue generation.
Deputy Chairman of the Committee, Hon. Saeed Musa Abdullahi, gave the commendation on Tuesday during the 2026 Revenue Monitoring Exercise with the Commission in Abuja.
Abdullahi praised the SEC’s financial management approach and urged the regulator to exceed its 2026 revenue target by at least 20 percent.
He said the monitoring exercise was aimed at improving the performance of government agencies and ensuring accountability amid Nigeria’s fiscal challenges.
“Director General, you have done significantly well. We urge you to keep the flag flying,” Abdullahi said.
Earlier, SEC Director-General Dr. Emomotimi Agama explained that the Commission operates without direct budgetary allocation from the Federal Government and relies on revenue generated from the capital market to fund its activities.
Agama said the SEC’s funding model aligns with the International Organization of Securities Commissions (IOSCO) principles, which encourage financial independence for securities regulators.
He disclosed that the Commission had secured approval from the Minister of Finance to retain 20 percent of its revenue through a waiver on statutory deductions to support its operations.
“We are regulators and are not expected to ask the market for money. The waiver ensures that our operations are not hindered,” Agama said.
Agama also revealed that the SEC had obtained an African Development Bank grant to acquire an advanced market surveillance system expected to be deployed this year to strengthen monitoring of Nigeria’s capital market and improve compliance with global standards.
The development comes amid broader efforts by Nigerian institutions to strengthen revenue mobilization and fiscal management as the country continues economic reforms.
