The National Assembly has commended the Securities and Exchange Commission, SEC, for improving its fiscal sustainability. The commendation was based on the Commission’s cost-cutting measures and improved revenue generation efforts.


Deputy Chairman of the House of Representatives Committee on Finance, Hon. Saeed Musa Abdullahi, gave the commendation on Tuesday during the 2026 Revenue Monitoring Exercise with the SEC in Abuja. He praised the Commission’s financial management and urged it to sustain the progress.

Hon. Abdullahi challenged the SEC to exceed its 2026 revenue projection by at least 20 percent. He said the monitoring exercise is not to witch-hunt agencies but to ensure better performance amid the country’s current fiscal challenges.

In his presentation, the Director-General of SEC, Dr. Emomotimi Agama, said the Commission operates in line with IOSCO principles which require securities regulators to be financially independent. He noted that SEC receives no budgetary allocation from the Federal Government.


Dr. Agama explained that all funds used to run the Commission come from the capital market, and that SEC even remits money to the government. He added that once revenues hit the CBN account, statutory deductions are made automatically before SEC can access the funds.

To avoid burdening market operators with more charges, the SEC DG said the Commission obtained approval from the Minister of Finance for a waiver to retain 20 percent of its income. This, he said, will help keep SEC operations running smoothly.

Dr. Agama also disclosed that SEC has secured a grant from the African Development Bank to acquire a modern market surveillance system. The system is expected to be deployed this year to strengthen oversight of Nigeria’s capital market and align it with international standards.