NASS Commends SEC for Revenue Growth and Sustainability

The National Assembly commended the Securities and Exchange Commission (SEC) for enhancing its fiscal sustainability through cost-cutting measures and improved revenue generation during the 2026 Revenue Monitoring Exercise held in Abuja. Hon. Saeed Musa Abdullahi, Deputy Chairman of the House of Representatives Committee on Finance, praised the SEC's progress and encouraged it to surpass its 2026 revenue target by at least 20 percent.

Dr. Emomotimi Agama, the SEC's Director-General, explained that the Commission operates without budgetary allocation from the Federal Government, relying solely on income from the capital market while remitting funds to the government. He noted that the SEC's revenues are subject to automatic deductions by the government upon deposit into its account with the Central Bank of Nigeria (CBN).

To alleviate financial pressure, the SEC secured a waiver from the Minister of Finance to retain 20 percent of its income. Additionally, Agama mentioned that the SEC received a grant from the African Development Bank to enhance market surveillance.