The Securities and Exchange Commission (SEC) has directed all capital market operators to renew their registration between January 1 and January 31, 2026, as part of efforts to modernise regulatory processes and strengthen confidence in Nigeria’s capital market.
The Commission also announced that it will commence electronic receipt and processing of applications for registration and updates in the first quarter of 2026, a move aimed at reducing delays, enhancing transparency and improving engagement between regulators and market participants.
In a statement on Sunday, the SEC said its Director-General, Dr. Emomotimi Agama, disclosed this while outlining the Commission’s digital transformation agenda and its implications for operators and investors.
Agama said the initiatives are designed to reposition the SEC as a technology-driven regulator capable of responding to the demands of a rapidly evolving financial ecosystem.
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“These initiatives reflect our commitment to leveraging technology for faster, more transparent and efficient regulatory processes. We are taking deliberate steps to automate supervision, strengthen data-based oversight and deploy secure infrastructure to improve our interaction with the market,” he said.
He explained that the SEC’s Digital Transformation Portal has already overhauled registration and licensing, with processes now fully automated from submission to approval. Through the platform, operators can submit applications, upload documents and track approvals online, significantly reducing manual processing and eliminating the need for physical visits.
Agama added that the Commission has introduced a Commercial Paper issuance module, allowing operators to file documents, monitor application status and receive approvals electronically. He said early feedback from users shows improved turnaround time, signalling early gains from the digital transition.
Beyond registration and issuance, the SEC is also automating the submission of quarterly and annual returns. Agama said structured templates and system checks are being developed to ensure accuracy and consistency, while a returns analytics dashboard is underway to support risk-based supervision and exception reporting.
“To support these reforms, we are upgrading our IT infrastructure, including servers, storage, networks and security layers, to enhance speed and reliability. Selective cloud migration has begun for platforms requiring scalability and external access, while core internal systems remain on-premise as we assess security and cost implications,” he said.
Agama noted that data protection and cybersecurity remain central to the Commission’s strategy, with vulnerability assessments ongoing and penetration testing planned once automation and migration stabilise. He said the goal is to build a modern and resilient regulatory environment that boosts efficiency, investor confidence and market stability.
He said Nigeria’s capital market is firmly on the path to full digital transformation but cautioned that the process requires deliberate policy choices and sustained capacity building. He stressed the need for regulatory clarity on advanced technologies, targeted support for smaller firms and continuous skills development across the market.
“A phased and proportionate approach to regulating emerging technologies such as artificial intelligence is essential, supported by supervisory technology tools. Investor education, especially among younger demographics, will also be critical to future-proof participation and drive fintech adoption,” he said.
While encouraging innovation, the SEC boss warned that technology adoption must be matched with responsibility.
“Innovation is vital, but it must come with accountability. As operators embrace automation, artificial intelligence and data-driven tools, they must ensure ethical, secure and compliant deployment. Protecting investor data, preventing market abuse and maintaining operational resilience are non-negotiable,” Agama said.
He added that responsible technology adoption ultimately strengthens trust, which remains the foundation of the capital market.
“Trust is built on fairness, transparency, accountability and regulatory compliance,” he said, urging operators to uphold these principles as the market becomes increasingly digital.
Agama said adherence to these standards will protect investors, preserve systemic stability and enhance the long-term credibility and competitiveness of Nigeria’s capital market.
