Nigeria: SEC, Others Commend FTC Role in Capital Market Growth

Stakeholders in Nigeria's capital market ecosystem recently gathered in Lagos to celebrate the 50th anniversary of Financial Trust Company (FTC), Nigeria's first indigenous stockbroking institution, paying glowing tributes to its founder, Otunba Olufemi Ajayi, for his pioneering vision in establishing the company in 1976.

Speaking at the golden jubilee celebration, the Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, described the anniversary as more than a corporate milestone, noting that it was an opportunity to honour the pioneers who built enduring financial institutions under difficult circumstances.

Represented by the commission's Lagos Zonal Head, John Briggs, Agama said Nigeria's capital market evolved from modest beginnings characterised by limited capital, shallow investor confidence, and a regulatory environment that was still developing.

According to him, visionary Nigerians chose not to wait for perfect conditions but instead invested in the idea that indigenous institutions could successfully mobilise capital, support enterprise, and drive economic development.

Also speaking, the Chief Executive Officer of Nigerian Exchange Limited (NGX), Jude Chiemeka, represented by Abimbola Babalola, Head of Trading and Products at NGX, said the story of FTC is deeply intertwined with the evolution of Nigeria's capital market. "50 years is not merely a corporate milestone but a testament to resilience, relevance, institutional character, and sustained contribution to national economic development," he said.

Similarly, President and Chairman of the Council of the Chartered Institute of Stockbrokers (CIS), Fiona Ahimie, described FTC's golden jubilee as a celebration of resilience, professionalism, innovation, and enduring impact.

Also speaking, the Chairman of the Association of Securities Dealing Houses of Nigeria (ASHON), Sehinde Adenagbe, praised FTC for successfully navigating decades of regulatory reforms, economic cycles, and institutional transitions under both military and civilian administrations.

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