Public-private collaboration mutually beneficial to both parties – SEC

Dr Emomotimi Agama, the Director-General of the Securities and Exchange Commission (SEC), said that the Public-private collaboration offers mutual benefits for both sectors.

Agama said this at the Chief Executive Officers (CEO) breakfast session titled: ‘Charting the Course for Seamless Public-Private Transitions’ on Wednesday in Abuja, on the sidelines of the 30th Nigerian Economic Summit (NES30).

The theme of the summit is: ”Collaborative Action for Growth, Competitiveness and Stability”.

He said that the private sector gains from the regulatory insights of former public officials, while the public sector benefits from the innovation and efficiency inherent in the private sector.

“Together, we can create a business environment that promotes growth, grounded in transparency and good governance.

“This collaboration ensures that our regulatory frameworks remain relevant, robust, and responsive to the evolving needs of the market.

“By working together, we can cultivate an ecosystem where businesses flourish and regulatory oversight encourages rather than impedes economic progress,” the Director – General (D-G) said.

Agama said that as a regulator, the SEC played a critical role in ensuring that transitions between the public and private sectors were seamless and ethical.

“We bear the responsibility to facilitate market operations that are transparent, efficient, and equitable.

“Our oversight guarantees that companies adhere to the highest standards of governance while protecting investors from malpractices, through our efforts.

“We seek to enhance market legitimacy, foster investor confidence, and promote private sector participation in economic growth,” he said.

The D-G said that SEC was a guardian of market integrity, ensuring that the private sector could innovate while maintaining accountability.

“These transitions go beyond mere job changes, they symbolise a convergence of experiences, ideas, and responsibilities.

“Professionals moving between the public and private sectors carry with them a wealth of knowledge that can significantly benefit both.

“However, these transitions also present unique challenges, particularly in terms of ethics, conflicts of interest, and the need for continuity in public governance and market regulation,” he said.

Agama said that the public sector focus was on regulation, policy-making, and safeguarding the public interest.

He said that while the private sector emphasises on innovation, competition, and profitability.

Agama said that this interplay offers opportunities for cross-pollination.

“Public servants transitioning to the private sector bring a deep understanding of regulations and public policy, while private-sector experts entering government roles contribute fresh perspectives, innovative practices, and efficiency to public service.”

The D-G said that to fully harness the potential of these transitions, we recognise the need for structured support to facilitate the influx of expertise from the private sector.

“That is why I am pleased to announce that SEC is in advanced stages of establishing a Talent Fund.

“This initiative, financed by the private sector, will enable SEC to engage top-tier experts from various industries to collaborate with us on key regulatory and market development issues,” Agama said.

He said that the challenge lies in balancing the valuable experiences gained from these transitions with the imperative for ethical conduct.

“Public-private transitions must never be perceived as a “revolving door,” where individuals leverage their positions for personal gain.

“We must implement safeguards such as cooling-off periods, conflict-of-interest policies, and comprehensive transparency measures to ensure these transitions uphold the integrity of our regulatory framework,” the D-G said.