SEC reaffirms commitment to reforms, launches electronic registration for capital market operators

By Onu Okorie

Securities and Exchange Commission SEC has reaffirmed its commitment to implementing reforms that promote innovation, improve regulatory service delivery and reinforce investor confidence in Nigeria’s capital market with the commencement of a fully electronic registration process for Capital Market Operators CMOs.

The Commission announced on Wednesday that the new electronic registration (e-Registration) platform, deployed through its ePortal, will enable designated regulatory services to be completed entirely online as part of its drive to modernise Nigeria’s capital market and improve regulatory efficiency.

According to the SEC, the platform marks another milestone in its digital transformation agenda, allowing Capital Market Operators to complete designated registration processes online, including application submission, regulatory review, approvals and communication of regulatory decisions.

The Commission explained that the initiative eliminates manual processing for the services covered in the current phase and is expected to simplify regulatory interactions, reduce administrative bottlenecks, shorten processing timelines and provide applicants with greater visibility into the status of their applications.

It added that the migration to a fully digital registration system would enhance operational efficiency while strengthening regulatory oversight through standardised workflows, electronic documentation, secure digital record management and improved audit trails.

“The new platform represents a major step towards creating a seamless digital regulatory ecosystem that enhances operational efficiency while strengthening regulatory effectiveness,” the Commission stated.

SEC noted that 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.

Beyond improving efficiency, the Commission said the platform would also strengthen the integrity of regulatory processes by reducing delays associated with paper-based documentation and improving the quality of regulatory data for informed decision-making.

It further stated that the digital platform provides a stronger foundation for regulatory analytics and future technological innovations aimed at improving oversight of Nigeria’s capital market.

The implementation, according to the regulator, is being carried out in phases to ensure a smooth transition for market participants while preserving the stability and integrity of regulatory processes.

SEC clarified that the current phase is limited to post-registration services for existing Capital Market Operators, stressing that applications for the registration of new entrants into the Nigerian capital market are not yet included. It said the commencement of electronic processing for new registration applications would be announced at a later date.

The Commission urged all Capital Market Operators to familiarise themselves with the new platform and comply with the implementation timelines to ensure a seamless transition to the electronic registration process.

According to the SEC, the initiative forms part of its broader modernisation agenda aimed at improving regulatory efficiency, strengthening market infrastructure, enhancing transparency and supporting the continued growth, resilience and global competitiveness of Nigeria’s capital market.