As part of efforts to deepen financial collaboration and accelerate delivery of priority infrastructure across the country, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, today in his office in Abuja, received a high-level delegation from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), led by its Director of Legal Affairs Mr. Hassan Idris.

At the meeting, the Minister emphasised the importance of leveraging risk mitigation tools to crowd in private investment, particularly in sectors such as energy, transportation, and housing.

*We appreciate ICIEC’s continued support for initiatives that directly improve productivity and livelihoods,* Edun stated. He stated further that, *by backing commercially viable, socially impactful infrastructure, ICIEC is helping Nigeria build a more inclusive economy, one where the private sector is empowered to create jobs and drive innovation*

Speaking earlier, the Director of Legal Affairs, Mr Hassan Idris, reaffirmed ICIEC’s commitment to supporting Nigeria’s economic agenda by de-risking major infrastructure investments and unlocking financing for private sector-led development. 

Mr. Idriss highlighted ICIEC’s readiness to provide credit and political risk guarantees that can catalyse both domestic and international capital flows into projects that drive growth and job creation.

The visit marks a renewed commitment to aligning financial instruments with President Bola Ahmed Tinubu’s infrastructure priorities and signals stronger cooperation in mobilising resources that deliver real, measurable benefits to the Nigerian people.

The Federal Government has inaugurated the new Board of Directors of the Asset Management Corporation of Nigeria (AMCON), marking a renewed phase in the Corporation’s mandate to stabilise the financial sector, enhance asset recovery, and prepare for an orderly institutional wind-down.

The newly appointed Board, Chaired by Dr. Bala Bello brings together seasoned professionals with a clear charge to improve corporate governance, accelerate the recovery of distressed assets, and design a credible, time-bound exit strategy in line with global best practices.

 Inaugurating the Board today in his office in Abuja, the Honourable Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun described AMCON’s new direction as critical to restoring investor confidence, unlocking value from non-performing assets, and supporting macroeconomic reforms that encourage private sector growth.

*AMCON must evolve from a stabiliser of last resort to a disciplined vehicle for value creation and responsible exit,* the Minister stated. *A credible wind-down will not only free up resources but reinforce our broader goal of a transparent, investment-friendly financial system.*

HM Edun emphasised that in a fiscally constrained environment, efficient asset recovery and institutional accountability are key levers for ensuring Nigeria remains a competitive destination for capital and enterprise.

In his response, AMCON Managing Director/CEO Mr. Gbenga Alade pledged the Board’s full commitment to delivering results and reaffirmed that the Corporation was never intended to be permanent.

*We are here to conclude, not to continue indefinitely,* he said. *We will benchmark our exit plan against global models and deliver a process that serves the national interest.*

The Federal Government views the reconstitution of AMCON’s Board as a strategic step toward unlocking balance sheet space for banks, supporting financial sector reform, and enabling stronger private sector participation in the economy.

Members of the newly inaugurated AMCON Board include:

Dr. Bala Bello – Chairman

Yusuf Tegina – Non-Executive Director, North Central

Adeyemo Adeoye – Non-Executive Director, South West

Charles Odion Iyiore – Non-Executive Director, South South

Yahaya Ibrahim – Non-Executive Director, North West

Emily Chidinma Osuji – Non-Executive Director, South East

Gbenga Alade – Managing Director/CEO, AMCON

Adeshola Lamidi – Executive Director, AMCON

Lucky Adaghe – Executive Director, AMCON

Aminu Mukthar Dan’Amu – Executive Director, AMCON

The Federal Government has called on capital market operators in the country to deepen investor confidence, improve financial literacy, and prepare for the implementation of ISA 2025 and a new Capital Market Master Plan (CMMP 2030) 

The Honourable Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun made the call today at the 2025 First Capital Market Committee (CMC) Meeting hosted by the Securities and Exchange Commission (SEC) at the Federal Palace Hotel, Victoria Island, Lagos.

 Represented by the Honourable Minister of State for Finance Dr Doris Uzoka-Anite, HM Edun underscored the strategic role of Nigeria’s capital market in achieving the Federal Government’s ambition of transitioning into a $1 trillion economy within the next decade. 

He emphasised that the capital market must become the primary engine for mobilising long-term finance across critical sectors such as infrastructure, housing, manufacturing, technology, and energy.

*This vision is overdue. Nigeria had the potential to reach this milestone 20 years ago,* he declared. *With the reforms we’ve undertaken, including fuel subsidy removal, FX harmonisation, and tightening of the fiscal framework, the foundation is now set for private capital to power growth.*

The Minister commended the passage of the Investment and Securities Act 2025, describing it as a landmark reform that modernises Nigeria’s regulatory environment to reflect global best practices.

 Highlighting the challenges of capital absorption and exit pathways, HM Edun stressed the need for robust frameworks to ensure that foreign and domestic capital can not only be attracted but also exited seamlessly.

 *The real question we must ask is: If a billion-dollar investment enters this market, do we have the structure for it to exit smoothly? Until we can answer that, we can’t claim the market is truly ready.*

 He called on market participants to go beyond capital raising and position the market as a genuine tool for wealth creation and inclusive development, while also advocating for the establishment of a Market Literacy Fund that is committed to supporting the SEC’s open-door policy. The Minister challenged stakeholders to catalyse a transparent and predictable investment environment and also encouraged stakeholders to rise to the occasion:

 *We’ve done the reforms. The time has come to implement. Let us build a rule-based, resilient market that unlocks growth for all Nigerians,* he emphasized

Speaking earlier, the Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama lauded the enactment of the ISA 2025 and outlined the Commission’s commitment to investor protection, digital innovation, and capital mobilisation. 

He highlighted a strong 2024 performance across asset classes, with the NGX All-Share Index gaining 37.65%, market capitalisation surpassing ₦62 trillion, and debt markets recording ₦460.55 trillion in turnover 

Notably, he confirmed the SEC’s ongoing collaboration with other agencies to streamline recapitalisation, deepen SME access to markets, and enhance transparency through technology upgrades. 

Dr. Agama reiterated SEC’s readiness to implement the ISA 2025, unveil the 2030 CMMP, and support Nigeria’s exit from the FATF grey list through strengthened AML/CFT compliance and market integrity reforms.

The 2025 CMC Meeting brought together a wide array of stakeholders across the financial ecosystem, including representatives from NGX, NASD, FMDQ, AFEX, CSCS, LCFE, NG Clearing, PCX, and GCMX, as well public sector institutions such as the CBN, DMO, FIRS, and the Ministry of Industry, Trade and Investment. The meeting also marked the official launch of the new SEC corporate website and the ISA 2025 Handbook.

With the Federal Government’s renewed focus on capital market development and the implementation of the ISA 2025 and CMMP 2030, Nigeria’s financial sector is poised for significant growth and transformation. As stakeholders work together to build a robust and resilient market, the prospects for a $1 trillion economy within the next decade look increasingly promising.