Securities & Exchange Commission Nigeria
- Regulating the capital market with a view to protecting investors; and
- Developing the capital market in order to enhance its allocative efficiency, and pave the way for a private sector led economy.
The Securities and Exchange Commission (SEC), Nigeria is the apex regulatory institution of the Nigerian capital market supervised by the Federal Ministry of Finance.
Our culture is built on a core system of values which are pivotal to the actualization of our mission and sustenance of our vision. Together, our mission, vision and values constitute the cornerstone of our corporate philosophy.
The Commission has evolved over time having started with the establishment of the Capital Issues Committee in 1962 by the government as an essential arm of the Central Bank of Nigeria. This was purely an ad-hoc, non-statutory committee, which later metamorphosed into SEC in 1979, following a comprehensive review of the Nigerian financial system, with the promulgation of SEC Decree No. 71 of 1979. Successive reviews of this earlier enactment led to the introduction of a new legislation, the Investments and Securities Act (ISA) No 45 of 1999. The ISA No. 45 of 1999 was repealed with the promulgation of the ISA No. 25 of 2007, which gives the Commission its current power.
This legislation further enlarged the powers of the Nigerian SEC, while saddling it with the dual responsibilities of:
To be a leading capital market regulator.
To develop and regulate a world class capital market with the capacity to contribute to the nation’s economic development.
Ms. Arunma Oteh
Arunma Oteh is the 4th Director General of the Securities and Exchange Commission, a position she took up in January 2010 having been Vice President, Corporate Services, African Development Bank Group (AfDB) since 2006
Samuel Adesujo Ademulegun Street,
Central Business District
Tel: 234-9-6330000 or 234-9-6330399
Other members of the board:
Board Chairman, Senator Udoma Udo Udoma
Senator Udoma Udo Udoma is the 5th Non-Executive Chairman of the Board of the Nigerian Securities and Exchange Commission. His appointment was ratified by the President of the Federal Republic of Nigeria in June 2008.
Executive Commissioner, Legal & Enforcement, Mr. Charles A. Udora
Charles Udora is the Executive Commissioner Legal and Enforcement. The mandate of his office is to deliver a vigorous enforcement regime for the legal framework underpinning activities in the Capital market thereby eliminating infractions.
Executive Commissioner, Finance and Accounts, Alhaji Lawal Sani Stores
Lawal Sani Stores is the Executive Commissioner for Finance and Accounts (E&A) of the Securities and Exchange Commission Nigeria, a position to which he was appointed in June 2008 after nearly two decades of service at the Nigerian Stock Exchange. In his role as Executive Commissioner (F&A), he has oversight responsibility for the financial resources of the Commission.
Executive Commissioner, Operations, Ms. Daisy Ekineh
Daisy Ekineh is responsible for the Commission’s Operations Directorate. In this role, she oversees initiatives to deepen the Nigerian Capital Market and extend its scope. She joined the Commission in 1981 as a Research Officer, rose to the position of a Director before her appointment as an Executive Commission in June 2008.
Non Executive Commissioner, Mallam Yahaya Ali
Yahaya Alli is currently the Chairman of Amoula Ventures Limited, a leading producer of construction fittings. Yahaya has nearly three decades of relevant experience in the financial services industry spanning Banking, Pension Fund Administration and Capital Market Operations.
Non Executive Commissioner, Mrs. Ronke Fatade
Aderonke Fatade’s experience in the financial services industry spans nearly three decades. She was an investment consultant prior to her appointment to the Board of the Securities and Exchange Commission.
Representative, Federal Ministry of Finance, Mr. Daniel I. Kifasi
Daniel I. Kifasi is the Federal Ministry of Finance (FMF)’s representative on the Board of the Securities and Exchange Commission.
Representative, Central Bank of Nigeria, Christopher O. Chukwu
Christopher O. Chukwu is the Central Bank of Nigeria (CBN)’s representative on the Board of the Commission. Chukwu brings to the Board, more than three decades of cognate experience spanning Commercial Banking, Banking supervision, Bank Safety and Soundness Examination, Information Technology, Financial Management and Accounting. He joined the Central Bank of Nigeria in 2010 as Acting Director in the Financial Policy and Regulatory Department.