SEC (Securities and Exchange Commission) says public-private sector career transitions are key to innovation, according to Director-General Emomotimi Agama.
At the recent 30th Nigerian Economic Summit in Abuja, Emomotimi Agama, Director-General of the Securities and Exchange Commission (SEC), emphasised the importance of career transitions between the public and private sectors for fostering innovation and collaboration.
He addressed key stakeholders, stating that these transitions are not only desirable but essential for creating a dynamic economy.
Agama noted that exchanging knowledge and expertise strengthens both sectors, thereby enhancing capabilities and promoting growth.
Moreover, Professor Fabian Ajogwu from Lagos Business School discussed Nigeria’s regulatory framework, which includes sector-specific guidelines and the Nigeria Code of Corporate Governance.
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However, concerns were raised regarding the three-year cooling-off period for public servants transitioning to private roles, which exceeds global norms of about two years.
Consequently, stakeholders called for flexibility, especially when public officials are not directly overseeing the relevant sector.
In addition, the discussion highlighted the need for greater public awareness of existing regulations to ensure compliance and build trust.
Ajogwu warned that a lack of awareness could undermine regulatory effectiveness, urging a critical assessment of the transition dynamics to differentiate actual risks from perceived ones.
In conclusion, Agama stated that these transitions serve as bridges between vital sectors and, when handled transparently, can enrich public governance and revitalize private enterprise, ultimately driving innovation and trust.
