The Securities and Exchange Commission (SEC) has launched its inaugural Regulator–FinTech Clinic as part of efforts to deepen engagement with Nigeria’s rapidly expanding financial technology ecosystem while promoting regulatory compliance and investor protection.
The event, held on Tuesday, aims to align innovation with regulatory standards and strengthen dialogue between the regulator and emerging players in the financial technology space.
Speaking at the opening of the clinic, the Director-General of the SEC, Emomotimi Agama, said the initiative reflects the Commission’s commitment to building a collaborative relationship with innovators operating within Nigeria’s financial system.
“This engagement reflects a deliberate step by the Commission to deepen dialogue between the regulator and the FinTech sector,” Agama said.
He noted that Nigeria has emerged as a leading innovation hub in Africa, with FinTech entrepreneurs expanding financial inclusion, democratising investment opportunities, and using technology to bridge structural gaps in the financial system.
Agama, however, stressed that while the progress recorded in the sector is commendable, regulatory frameworks must evolve alongside technological advancements.
“Responsible innovation requires regulatory frameworks that are both protective and adaptable. The clinic forms part of that continuous review process to ensure our rules remain proportionate, responsive, and aligned with market realities,” he said.
According to him, the SEC’s core mandate of protecting investors, ensuring fair and transparent markets, and facilitating capital formation remains fully compatible with technological innovation.
He emphasised that clarity, predictability, and trust are critical conditions for innovation to thrive.
Agama further noted that since 2018, the Commission has demonstrated its commitment to supporting technological advancement in Nigeria’s capital market through initiatives such as the establishment of a dedicated FinTech department, the introduction of innovation facilitators, and the development of FinTech-focused regulatory rules.
He added that the recent enactment of the Investments and Securities Act 2025 has further strengthened the Commission’s capacity to regulate emerging digital products and platforms while enhancing investor protection.
According to him, the Regulator–FinTech Clinic is designed to achieve three key objectives: providing clarity on the regulatory landscape under the new Act, engaging directly with FinTech operators on common compliance pitfalls, and reinforcing the importance of legitimacy for sustainable growth.
“FinTech business models often evolve faster than regulatory frameworks,” Agama said. “Early dialogue prevents costly missteps. Compliance embedded at the design stage is far more effective than corrective measures after market entry.”
He urged stakeholders to view the clinic as a constructive engagement platform rather than an adversarial forum.
Agama reiterated the Commission’s commitment to supporting innovators within a framework that safeguards investor interests and preserves the integrity of Nigeria’s capital market.
He also highlighted the evolving digital financing landscape, referencing the SEC’s 2021 crowdfunding framework and ongoing reviews aimed at strengthening capital formation while maintaining strong investor protection.
According to him, regulatory clarity remains especially important for retail investors who may not fully understand the complexities of digital financial products.
He stressed that innovation must be matched with sound governance to ensure sustainable growth and sustained investor confidence.
“As we launch this inaugural clinic, our goal is to align innovation with integrity, growth with governance, and technology with trust,” he said.
In a keynote address, the Executive Commissioner, Operations at the SEC, Bola Ajomale, noted that digital assets have captured the imagination of many young Nigerians, highlighting the growing influence of technology-driven finance.
He said while the future of the sector is promising, it must develop alongside responsible practices and effective regulation.
“We believe that the responsibilities we have, and those of all market players, must grow in complement with the enthusiasm. There are emerging risks, including unregistered investment platforms,” Ajomale said.
He added that the Commission remains committed to protecting investors, ensuring fair and efficient markets, and facilitating capital formation.
According to him, the SEC has already engaged with more than 500 firms to better understand evolving financial models and innovations being introduced into the market.
“That is why we are engaging the players to understand what they are bringing to the market and then set up a framework through which we can regulate them effectively,” he said.
