The Senate Committee on Capital Markets has urged for the regulation of cryptocurrency to ensure accountability and protect investors’ funds. Sen. Osita Izunaso, the Committee Chairman, emphasized the necessity of regulating cryptocurrency trading, citing the increasing participation of Nigerians in the crypto market. He stressed that regulation is essential to track the flow of funds and protect investors.
Furthermore, Izunaso highlighted the significance of investing in the stock exchange and capital market to bolster Nigeria’s economy. He echoed President Bola Tinubu’s vision of achieving a N1 trillion economy, emphasizing the pivotal role of the capital market in realizing this goal. Izunaso emphasized the need to address liquidity challenges by developing the capital and crypto markets to attract more investments.
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Dr. Emomotimi Agama, the newly appointed Director-General of the Securities and Exchange Commission, pledged to enhance the development of the capital market to foster wealth creation, attract investments, and generate employment opportunities. He expressed commitment to introducing innovative initiatives aimed at nurturing world-class companies and redistributing wealth in the country.
As Nigeria approaches the first year of President Tinubu’s administration, the focus remains on revitalizing the market and achieving economic milestones. Agama assured stakeholders of the commission’s dedication to advancing the capital market and contributing to the realization of President Tinubu’s ambitious economic agenda.
