Nigeria: Bridging Financial Inclusion Gaps Could Lift 700,000 Nigerians Out of Poverty – SEC DG

The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has emphasized that narrowing the financial inclusion gender gap could lift approximately 700,000 Nigerians out of poverty. He made this assertion while calling for strategic action to leverage Nigeria’s demographic dividend as a driver of inclusive investment and national development.

Speaking during the United Capital Asset Management Investment Forum held in Lagos, Dr. Agama delivered a keynote address titled “Advancing Financial Inclusion through Investments: Bridging Nigeria’s Knowledge and Wealth Gap.” He stressed that expanding financial participation is not merely an economic objective but a national imperative.

“Our theme is not aspirational—it is foundational to our collective survival as a nation. By 2030, Nigeria must choose between harnessing its demographic advantage or facing the risks of widening inequality,” Agama said.

He argued that financial inclusion must go beyond basic access to become active financial participation, where empowerment, education, and capital intersect to create meaningful economic transformation.

Despite Nigeria’s large and youthful population, Agama lamented the low participation rate in the capital market, noting that insufficient investor engagement is a major contributor to persistent poverty.

“Too many Nigerians remain outside the formal investment ecosystem. This exclusion is both an economic loss and a social injustice,” he added. “We need to change the narrative and make the capital market a platform for empowerment—not just for the elite but for everyday Nigerians.”

Dr. Agama reaffirmed the SEC’s commitment to investor protection, market development, and inclusive access, pledging to drive reforms grounded in fairness, transparency, and opportunity for all.

To address the structural challenges hindering financial inclusion, the SEC DG proposed a four-pillar strategy:

1. Democratisation of Financial Knowledge – Promote widespread financial literacy to enable informed decision-making and investment participation.

2. Catalysing MSME Investment Channels – Expand capital market access for Micro, Small, and Medium Enterprises (MSMEs), a critical segment of Nigeria’s economy.

3. Blended Finance Vehicles – Partner with institutions like the Bank of Industry (BOI) to de-risk credit facilities and mobilize financing for underserved groups, particularly women-led enterprises.

4. (Implicit fourth to be detailed if available – may clarify with original remarks)

The SEC’s approach aligns with broader national goals of sustainable development and poverty reduction, positioning capital markets as engines of inclusive economic growth.

Dr. Agama’s remarks come at a time when regulatory institutions are deepening efforts to build a more inclusive financial system, with emphasis on gender equity, digital access, and investor confidence.