Reps Commend SEC for Fiscal Reforms and Revenue Growth

The House of Representatives has praised the Securities and Exchange Commission (SEC) for its fiscal sustainability achieved through cost-cutting measures and improved revenue generation. This commendation was made by Saeed Abdullahi, the Deputy Chairman of the House Committee on Finance, during the 2026 Revenue Monitoring Exercise held in Abuja.

Abdullahi encouraged the SEC to maintain its momentum and to aim for a revenue increase of at least 20% beyond its 2026 projections. Dr Emomotimi Agama, the Director-General of the SEC, explained that the commission operates independently 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 has received approval from the Minister of Finance to retain 20% of its income to ease operational pressures. Additionally, the SEC has secured a grant from the African Development Bank for a modern market surveillance system to enhance oversight of Nigeria's capital market.