SEC chair says strong forensics, transparency needed for Nigeria’s $1tn economy goal
Nigeria cannot achieve its ambition of becoming a $1 trillion economy without strengthening forensic capacity, restoring investor confidence, and enhancing transparency in both the capital market and public institutions, the Chairman of the Securities and Exchange Commission (SEC), Mairiga Aliyu Katuka, has said.
Katuka, speaking at the certification event for newly trained forensic practitioners, said the capital market remains one of the country’s strongest pathways to economic expansion, but only if investors trust the integrity of those responsible for uncovering fraud and verifying financial reports. He noted that forensic experts play a central role in shaping that trust.
Former House of Representatives member and sponsor of the CIFCFIN Bill, Rt. Hon. Yusuf Buba Yakubu, described the launch of Nigeria’s first national forensic corps as a historic milestone. He said the move ends years of reliance on foreign certification and saves the country billions of naira.
Delivering the keynote address, Founder and Chairman of the Governing Council of CIFCFIN, Dr. Iliyasu Gashinbaki, highlighted the institute’s growing contribution to the fight against corruption and financial crimes. He cited the SERAP v. Federal Government judgment on the NDDC forensic audit as proof of how forensic evidence, combined with investigative journalism, can drive transparency at the highest levels of government.
Gashinbaki also pointed to the P&ID scandal and BudgIT’s report of N6.93 trillion project insertions in the 2025 budget as further evidence of the urgent need for scientific verification and stronger accountability mechanisms in public finance.
He outlined CIFCFIN’s achievements over the past two years, including MoUs with the Bureau of Public Procurement, Standards Organisation of Nigeria, ANAN University and engineering bodies, as well as observer status on key SEC committees and tribunals. The institute has trained more than 6,000 forensic and fraud-investigation professionals, with membership now exceeding 6,200.
Graduating fellows were reminded that their work directly influences national stability, as they remain essential to tracing financial leakages, detecting fraud, and strengthening institutions.
Prof. Michael Adebayo Ayeni, Chairman of CIFCFIN’s Professional Training and Standards Committee, described the ceremony as a celebration of the individuals whose vision led to the creation of an institution now central to justice, accountability and national development.
Experts at the event agreed that expanding forensic capacity is among Nigeria’s most strategic reforms toward building a transparent, globally competitive $1 trillion economy.
