Market News

By Jide Ajia

The Securities and Exchange Commission has commenced the implementation of a fully electronic registration process for capital market operators, enabling designated regulatory services to be completed entirely online as part of efforts to modernise Nigeria’s capital market and improve regulatory efficiency.

The Commission, in a statement released on Wednesday, said the new electronic registration platform introduced through its ePortal represents another significant step in its digital transformation programme and reinforces its commitment to creating a technology-driven regulatory ecosystem.

According to the SEC, the platform allows Capital Market Operators to complete designated registration processes online, covering application submission, regulatory review, approvals, and communication of decisions, thereby eliminating manual processing for the services included in the current phase.

The regulator noted that the initiative 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 improve operational efficiency while strengthening regulatory oversight through standardised workflows, electronic documentation, secure digital record management, and enhanced 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.

The SEC explained 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 noted that the platform will enhance the integrity of regulatory processes by reducing delays associated with paper-based documentation and improving the quality of regulatory data for decision-making. It added that the digital portal would also provide a stronger foundation for regulatory analytics and future innovations aimed at improving oversight of Nigeria’s capital market.

However, the SEC emphasised that the implementation is being carried out in phases to ensure a smooth transition for market participants while maintaining the stability and integrity of regulatory processes.

It clarified that the current phase is limited to post-registration services for existing operators, adding that applications for the registration of new entrants into the Nigerian capital market are not yet covered.

According to the Commission, the commencement of electronic processing for new registration applications will be announced at a later date.

The SEC urged all market operators to familiarise themselves with the new platform and comply with implementation timelines to ensure a seamless transition to the electronic registration process.

It added that the initiative forms part of a broader modernisation agenda designed to improve regulatory efficiency, strengthen market infrastructure, enhance transparency, and support the continued growth, resilience, and global competitiveness of Nigeria’s capital market, while reinforcing investor confidence.