Nigeria has strengthened its role in advancing Africa’s financial integration agenda following the signing of a memorandum of understanding (MoU) between the Securities and Exchange Commission (SEC) and Rwanda’s Capital Markets Authority (CMA).
Signed in Abuja on June 22, 2026, the agreement establishes a framework for cooperation in capital market supervision, enforcement, investor protection, investor education, market development, information sharing, capacity building, training and technical assistance.
The partnership reflects a growing commitment among African nations to build stronger financial institutions and create more connected markets capable of attracting investment and supporting long-term economic growth.
Speaking at the signing ceremony, SEC Director-General Emomotimi Agama said African countries must work more closely together to unlock the continent’s full economic potential.
“We need to cooperate in Africa, invest in each other’s markets and grow our continent,” Agama said.
He noted that stronger collaboration among regulators would help promote cross-border investments, improve investor confidence and foster a more interconnected African financial ecosystem.
Agama also acknowledged Rwanda’s progress in finance, commerce and other sectors, while reaffirming Nigeria’s willingness to share its experience in capital market regulation and development.
“On our part, we have a strong capital market structure and we want to explore the role the capital market can play in advancing Africa’s development,” he said.
According to him, the collaboration is expected to support the growth of both markets while creating broader economic opportunities for citizens of Nigeria and Rwanda.
The SEC chief further urged governments across the continent to leverage capital markets as a source of long-term funding for critical infrastructure projects.
“The capital market is a viable platform for raising funds for infrastructure development,” Agama said.
“We see the capital market as a solution provider for driving economic growth and development.”
For Rwanda, the agreement offers an opportunity to learn from one of Africa’s largest and most established capital market ecosystems.
Chief Executive Officer of the Capital Markets Authority of Rwanda, Romeo Ngarambe, said his country is eager to draw lessons from Nigeria’s experience.
“We are here to learn from you because you have a more advanced capital market, and we are confident that we will gain valuable lessons from your experience,” Ngarambe said.
“Whatever knowledge you share with us, we will put it to good use, and we look forward to a fruitful partnership.”
According to the SEC, the MoU is expected to strengthen regulatory cooperation between both countries and contribute to the development of more integrated and resilient capital markets across Africa.
The agreement also reinforces Nigeria’s growing influence in shaping the future of African finance, with its capital market expertise increasingly serving as a reference point for collaboration and institutional development across the continent.
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