By ebosele@hotmail.com. —
The Securities and Exchange Commission (SEC) has announced that capital market operators are required to renew their registration between January 1 and January 31, 2026.
The Commission also disclosed plans to commence full electronic receipt and processing of applications for registration, as well as updates to registration information, in the first quarter of 2026, as part of efforts to enhance efficiency and transparency in the market.
Director-General of the SEC, Dr. Emomotimi Agama, made this known during a weekend interview in Abuja, where he outlined the Commission’s ongoing digital transformation initiatives.
According to Agama, the reforms underscore the SEC’s commitment to leveraging technology to deliver faster, more transparent, and efficient regulatory processes.
“These initiatives reflect our commitment to leveraging technology for faster, more transparent, and efficient regulatory processes. The Commission is taking deliberate steps to make regulatory processes technology-driven. We are investing in automation, database supervision, and secure infrastructure to improve how we interact with the market,” he said.
Agama explained that through the SEC’s Digital Transformation Portal, the Commission has automated its registration and licensing processes end-to-end. Capital market operators can now submit applications, upload required documents, and track approval status online, significantly reducing manual processing time and the need for physical visits.
He added that the Commission has also rolled out a Commercial Paper issuance module, enabling operators to file documents electronically, monitor application progress, and receive approvals online.
“Feedback from early users shows a clear improvement in turnaround time,” the SEC boss noted.
Agama further revealed that work is ongoing to automate the submission of quarterly and annual returns using structured templates and system checks to ensure data accuracy. He said a returns analytics dashboard is also being developed to support risk-based supervision and exception reporting.
To support these reforms, the SEC has commenced upgrades of its information technology infrastructure, including servers, storage systems, networks, and security layers, aimed at improving speed and reliability.
“Selective cloud migration is underway for platforms that require scalability and external access, while core internal systems remain on-premise for now, as we continue to assess security and cost implications,” he said.
The SEC, according to Agama, is also strengthening data integrity and cybersecurity through vulnerability assessments and planned penetration testing once automation and migration phases stabilise.
“These efforts demonstrate our commitment to building a modern, resilient regulatory environment that supports efficiency, investor confidence, and market stability,” he added.
Agama affirmed that Nigeria’s capital market is firmly on a path toward digital transformation but stressed the need for regulatory clarity on advanced technologies, targeted support for smaller firms, and sustained capacity-building initiatives.
He noted that a phased and proportionate approach to regulating emerging technologies such as artificial intelligence (AI) is essential, alongside internal readiness through supervisory technology tools.
“Investor education, particularly among younger demographics, will be critical to future-proof participation and drive fintech adoption,” he said.
While encouraging innovation, the SEC Director-General warned that technology adoption must be accompanied by responsibility.
“As operators embrace automation, artificial intelligence, and data-driven tools, they bear a duty to ensure ethical, secure, and compliant deployment. Safeguarding investor data, preventing market abuse, and maintaining operational resilience are non-negotiable,” Agama stressed.
He concluded that responsible technology adoption is fundamentally about building trust, which he described as the cornerstone of capital markets.
“Trust thrives on fairness, transparency, accountability, and regulatory compliance. Upholding these principles will not only protect investors and systemic stability but also strengthen the long-term credibility and competitiveness of the Nigerian capital market,” he said.
