Vice President of Nigeria, Kashim Shettima
The Vice President of Nigeria, Kashim Shettima has called on the Judiciary to play a significant role in deepening the country’s capital market by delivering timely, well-reasoned, and technically sound judgments capable of boosting investor confidence and promote long-term capital.
Shettima spoke at the opening of a two-day judges’ workshop organised by the Securities and Exchange Commission, SEC, in Abuja, tagged, “Repositioning the Nigerian Capital Market for National Economic Transformation through Effective Dispute Resolution.”
Represented by the Special Adviser to the President on Economic Affairs (Office of the Vice President), Dr. Tope Fasua, the vice president described the capital market as the “lifeblood of modern economies,” stressing the importance of judicial efficiency in fostering market growth.
He warned that delays, inconsistencies or a lack of sector-specific expertise in the judiciary could create systemic risks and discourage both domestic and foreign investments.
“The capital market is far more than just a platform for buying and selling securities. It is a sophisticated ecosystem that mobilises long-term capital for productive investments. It connects savers with investors, providing liquidity for businesses to grow, innovate and create jobs.
“It is where infrastructure projects find funding, where small and medium enterprises, SMEs, can scale, and where the dreams of entrepreneurs take flight,” VP Shettima said.
He said: “It is a critical tool for diversifying our economy beyond oil, promoting indigenous industrialisation, and attracting both local and foreign direct investments.
‘’A well-functioning capital market can unlock latent wealth, deepen financial inclusion and ultimately improve the living standards of our people.’’
Shettima pointed out that the effectiveness of “any capital market hinges on one fundamental, non-negotiable element – trust. Investors, whether local or international, institutional or retail, will only commit their hard-earned capital where they are confident that their investments are secure, that transactions are transparent, and that their rights are protected”.
In his address, the Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun, said the capital market had become a critical lever of economic participation and empowerment.
Kekere-Ekun, who was represented by Justice of the Supreme Court, Justice Stephen Adah, observed that like all vital systems, the capital market was also vulnerable.
“The capital market is a repository of trust, but also a potential site of distortion. It is a platform for innovation, but also susceptible to fraud and regulatory arbitrage.
‘’In this regard, the judiciary has a profound role to play. Not as passive arbiters, but as active custodians of economic integrity and commercial justice,” she stated.
