Sound Legislation, Effective Oversight Key To Market Resilience — Izunaso

The Chairman of the Senate Committee on Capital Markets and Institutions, Osita Izunaso, has underscored the critical role of sound legislation and strong regulatory oversight in building resilient capital markets capable of supporting Africa-wide economic integration.

Speaking at the 3rd Professor Uche Uwaleke (PUU) Biennial Colloquium on the Capital Market held Monday at the Shehu Musa Yar’Adua Centre in Abuja, Izunaso said investor confidence and sustainable market growth depend fundamentally on credible governance frameworks and forward-looking reforms.

Addressing lawmakers, academics, regulators, captains of industry and development partners at the gathering, Izunaso described the colloquium as an important platform where policy meets scholarship and theory engages practice.

He commended Professor Uche Uwaleke, Director of the Institute of Capital Market Studies at Nasarawa State University Keffi, for sustaining what he called a respected intellectual tradition that continues to shape Nigeria’s financial architecture.

“What started as a vision has matured into a credible platform where ideas are not merely discussed but refined to strengthen our markets,” he said, noting that building such consistency and relevance requires discipline and commitment.

Izunaso, who chairs the Senate Committee overseeing capital market institutions, emphasised that sustainable development cannot occur in isolation.

According to him, policymakers require the benefit of research and critical inquiry, while scholars must remain attuned to market realities and governance challenges.

He described the colloquium as a vital “handshake between the town and the gown,” stressing that collaboration between academia, industry and government is essential for meaningful reform.

The lawmaker noted that the theme of this year’s colloquium “Future-proofing Africa-wide Economic Integration: Infrastructure, Innovation, and Capital Markets” is timely given the continent’s ongoing integration efforts under frameworks such as the African Continental Free Trade Area (AfCFTA).

He said future-proofing Africa’s economy requires deliberate investment in infrastructure, the promotion of innovation and, crucially, the strengthening of capital markets to mobilise long-term finance and support cross-border investment.

“As lawmakers, we recognise that strong markets require strong governance,” Izunaso said. “Sound legislation, effective oversight and credible regulatory institutions are fundamental to investor confidence.”

He assured participants that the Senate Committee on Capital Markets and Institutions would continue to support reforms aimed at enhancing efficiency, transparency, resilience and innovation within Nigeria’s capital market.

The senator also praised the calibre of speakers assembled for the colloquium, describing the gathering as a multidisciplinary convergence of industry leaders, academics, regulatory authorities and legislators.

“The intellectual depth represented here today is profound,” he noted, pointing to contributions from experts in accounting, international trade, economics, financial markets and university leadership.

Izunaso further acknowledged the advisory role Professor Uwaleke has played in supporting the work of the Senate Committee, stating that his insights have enriched legislative deliberations and strengthened oversight functions.

“It is fitting that we gather under his intellectual leadership to chart the course for Africa’s financial future,” he added.
Calling for practical outcomes, the senator urged participants to focus on actionable recommendations capable of translating into legislative initiatives, regulatory improvements and measurable institutional reforms.

He expressed confidence that the panel discussions would be forward-looking and solution-driven, with outcomes that could inform policy direction at both national and continental levels.

As Africa pursues deeper economic integration, Izunaso maintained that resilient capital markets anchored on credible laws and effective oversight would remain indispensable to sustaining growth, attracting investment and strengthening financial stability.

He concluded by wishing participants fruitful deliberations and reaffirming the National Assembly’s commitment to reforms that position Nigeria’s capital market as a catalyst for broader economic transformation.