The Nigerian Securities and Exchange Commission (SEC) has launched a technology adoption assessment for registered capital market operators. This move aims to evaluate the extent to which these operators have embraced advanced technologies in their operations. The assessment is being conducted through a survey, which is accessible on the SEC’s e-portal, and will be available for a two-week period, from May 5 to May 20, 2025.
According to the SEC, the survey is designed to gather insights into the adoption of advanced technologies among registered capital market operators. The commission has urged all registered operators to participate in the survey by logging in to the e-portal with their current access credentials. Any enquiries or concerns can be directed to the SEC’s innovation department via email.
The Director-General of the SEC, Dr Emomotimi Agama, has emphasized the importance of innovation in driving growth, efficiency, transparency, and resilience in the capital market. He noted that the SEC is committed to adapting its regulations to address the emerging financial products and services made possible by technological advancements. The commission’s approach to regulating innovation is three-pronged, focusing on safety, market deepening, and solutions to problems.
To support innovation and growth in the market, the SEC has established a Regulatory Incubation program. This program allows new FinTech businesses to operate within a controlled regulatory environment for a period of one year, while the SEC develops applicable rules to address these innovative technologies. The incubation program is designed to ensure investor protection and market stability, while also fostering financial technology advancements in the Nigerian capital market.
By launching this technology adoption assessment, the SEC is taking a significant step towards promoting innovation and digital transformation in the Nigerian capital market. The commission’s efforts to create a more efficient and reliable market ecosystem are expected to have a positive impact on the overall development of the country’s financial sector. As the SEC continues to adapt to the evolving landscape of financial technologies, its commitment to investor protection, market stability, and innovation is likely to yield long-term benefits for the Nigerian economy.
