SEC commences full e-registration for capital market

Nigeria's Securities and Exchange Commission (SEC) has initiated a fully electronic registration process for capital market operators, marking a significant step in modernizing the country's capital market and enhancing regulatory efficiency. This new digital platform, accessible via the SEC's ePortal, is designed to handle designated regulatory services entirely online.

The electronic registration platform allows Capital Market Operators to submit applications, undergo regulatory reviews, receive approvals, and communicate decisions digitally. This eliminates manual processing for the services currently included in the system. The SEC anticipates that this move will simplify regulatory interactions, reduce administrative hurdles, shorten processing timelines, and provide applicants with better visibility into their application status.

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The new platform represents a major step towards creating a seamless digital regulatory ecosystem that enhances operational efficiency while strengthening regulatory effectiveness.

By migrating to a fully digital system, the SEC aims to improve operational efficiency and strengthen regulatory oversight. The platform incorporates standardized workflows, electronic documentation, secure digital record management, and enhanced audit trails. The Commission stated that the new system represents a major stride towards creating a seamless digital regulatory ecosystem that boosts operational efficiency while reinforcing regulatory effectiveness.

This initiative aligns with the SEC's strategic objective of leveraging technology to improve market efficiency, facilitate business operations, and deliver superior services to stakeholders. While the current phase focuses on post-registration services for existing operators, the SEC plans to extend electronic processing to new registration applications at a later date, ensuring a smooth transition for all market participants.

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The e-Registration platform aligns with its strategic objective of leveraging technology to improve market efficiency, enhance the ease of doing business, and deliver better services to stakeholders.