The Director-General of the Securities and Exchange Commission, Emomotimi Agama, has cautioned that Nigeria’s capital market faces a critical shortage of credible issuers. Speaking at the University of Ibadan, he warned that focusing solely on increasing investor participation without expanding the pool of high-quality, transparent institutions will lead to asset price inflation rather than genuine market development. Agama emphasized that sustainable growth requires more organizations capable of meeting rigorous governance and transparency standards to absorb the rising retail investment demand.