Mathew Amaechi
In a spirited call for financial transformation, Nigeria’s Vice President Kashim Shettima, speaking on behalf of President Bola Tinubu’s administration, urged African capital markets to embrace digital innovation and deepen regional integration at the 2025 Conference of the Africa and Middle East Depositories Association (AMEDA) in Lagos.
Represented by Special Adviser on Economic Matters Tope Fasua, Shettima highlighted that “we are witnessing tectonic shifts” in global engagement—shifts that demand a reimagining of financial market infrastructures.
“At the heart of this transformation lies the indispensable role of depositories, clearing houses, payment systems and digital platforms that sustain trust, enable transparency, and provide the liquidity our markets require,” he declared in a recorded message.
He emphasized that Nigeria’s ambitious agenda for economic growth—to achieve a $1 trillion economy within the next decade—will be driven by targeted regulatory reforms, robust public-private partnerships, and a deliberate focus on inclusive finance.
The Vice President emphasized the administration’s commitment to fortifying Nigeria’s financial market infrastructures by introducing groundbreaking regulatory frameworks for digital assets, enhancing legal instruments to support capital market development, and catalyzing investments through innovative financing mechanisms such as green bonds, social bonds, and sukuk. “Innovation must be responsible, secure and equitable. No citizen must be left behind,” he asserted, reinforcing the critical need for a financial system that is efficient, accessible, and resilient.
Joining the call for collaboration was Access Holdings Chairman Aigboje Aig-Imoukhuede. Emphasizing the benefits of resource pooling and shared expertise, Aig-Imoukhuede noted that historical investment trends had already demonstrated the Middle East’s willingness to invest in Africa. “As AMEDA members, you must pool resources, share best practices, and leverage each member’s unique strengths,” he advised, suggesting that the growing synergy between the regions has the power to create an economic bloc that drives transformative growth.
AMEDA, the umbrella body representing Central Securities Depositories and Clearing Houses across Africa and the Middle East, has played a pivotal role since its inception in 2005. In his welcome address, AMEDA Chairman Abdulla Abdin remarked that the conference’s theme, “Shaping the Future: Financial Markets Infrastructures as Catalysts for Transforming Economies,” reflects the organization’s recognition of rapid global economic shifts and the imperative role of financial infrastructure in fostering inclusive growth.
Vice Chairman Haruna Jalo-Waziri, who doubles as Managing Director/CEO of the Central Securities Clearing Systems, further challenged participants to address fundamental issues such as expanding access for underserved populations, enhancing the scalability of market infrastructures, and establishing interoperable capital markets across the regions.
Representatives from key regulatory and governmental bodies—including the Commissioner for Economic Planning, Opeyemi George, on behalf of Lagos State Governor Babajide Sanwo-Olu, and the Executive Commissioner for Operations at the Securities and Exchange Commission, Bola Ajomale—also lent their support to the initiatives discussed, highlighting the importance of a coordinated, multi-stakeholder approach in realizing the region’s financial aspirations.
As Africa and the Middle East harness their demographic strength and digital ambitions, the collective vision articulated by Nigeria’s leading figures sets a promising course towards building resilient, future-proof financial systems. The ongoing dialogue among market infrastructure experts and policymakers promises not only to boost cross-border investment but also to cement the region as a formidable force in global economic development.
