Vice President Kashim Shettima has stressed the vital role of the judiciary in Nigeria’s capital market development, urging judges to deliver prompt and expert rulings that protect investors and foster regulatory confidence. Shettima made the remarks at a high-level judicial workshop organized by the Securities and Exchange Commission (SEC) in Abuja.
The two-day event, themed “Repositioning the Nigerian Capital Market for National Economic Transformation through Effective Dispute Resolution,” brought together top judges, regulators, and policy stakeholders to explore how legal processes can bolster market growth.
Shettima, represented by his Economic Adviser, Dr. Tope Fasua, noted that while Nigeria’s capital market has seen progressive reforms, the strength of its legal and judicial framework will ultimately determine investor confidence and long-term growth.
“The capital market is not merely a trading platform. It is central to our national economic aspirations—driving job creation, industrial development, and wealth distribution,” Shettima said.
He emphasized that for the capital market to thrive, the judiciary must ensure swift and technically sound judgments, especially in resolving disputes involving securities fraud, regulatory breaches, and investor rights.
The Vice President’s statement comes on the heels of the passage of the Investment and Securities Act 2025, which aims to strengthen market governance, enhance investor protection, and expand enforcement tools for regulators.
In her remarks, Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun, represented by Justice Stephen Adah, called on members of the judiciary to remain “custodians of commercial justice,” stressing the need for judges to familiarize themselves with evolving capital market instruments and regulatory frameworks.
“A well-informed judiciary promotes legal clarity, boosts investor trust, and minimizes uncertainty in the financial markets,” Justice Adah said.
Director-General of the SEC, Dr. Emomotimi Agama, said the workshop was a strategic response to the new capital market realities brought about by the Investment and Securities Act. He described the legal community as a “critical pillar” in driving market reforms.
“An efficient and predictable judicial system is key to attracting local and international investors,” Agama said, adding that the SEC is committed to providing judges with the tools and knowledge needed to adjudicate complex financial matters.
Also speaking at the workshop, Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, revealed that the commission had filed charges against 58 illegal investment schemes in Nigerian courts. Two of these have resulted in convictions, while major ongoing cases include those involving Binance and CBEX, two platforms accused of violating Nigeria’s financial regulations.
Olukoyede said these cases highlight the need for the judiciary to act decisively in protecting the integrity of Nigeria’s investment climate.
“Quick and firm legal decisions help dissuade financial criminals while giving legitimate investors the confidence that their interests will be protected,” he added.
Economic analysts have long argued that beyond market liberalization and regulatory updates, investor sentiment is significantly shaped by the judicial environment. Delayed or inconsistent rulings can erode trust, particularly in a market like Nigeria’s where investor protection mechanisms are still evolving.
With Nigeria’s economy looking to diversify away from oil and deepen access to long-term funding, the capital market is seen as a crucial engine of economic transformation. However, without a reliable dispute resolution system, the country risks undercutting the very reforms it has recently implemented.
As Nigeria continues its journey toward becoming a regional financial hub, stakeholders agree that legal certainty and judicial efficiency will play an indispensable role.