SEC Sets Jan 2026 Deadline For Market Operators’ Registration Renewal

LAGOS – Nigeria’s Securities and Ex­change Commission (SEC) has announced that all cap­ital market operators must renew their registration be­tween January 1 and January 31, 2026, as the apex regulator accelerates a sweeping digi­tal transformation aimed at boosting efficiency, transpar­ency, and investor confidence in the nation’s capital market.

The Director General of SEC, Dr. Emomotimi Agama, disclosed this at the weekend in Abuja, revealing that the commission will commence full electronic receipt and processing of applications for registration and updates to registration information in the first quarter of 2026.

According to Agama, the move marks a major shift from manual, paper-heavy regulatory processes to a tech­nology-driven framework de­signed to reduce turnaround time, cut compliance costs, and improve supervisory oversight.

“These initiatives reflect our commitment to leverag­ing technology for faster, more transparent, and efficient reg­ulatory processes,” the SEC chief said.

“The commission is tak­ing deliberate steps to make regulatory processes faster, more transparent, and tech­nology-driven. We are invest­ing in automation, databased supervision, and secure infra­structure to improve how we interact with the market.”

At the heart of the reforms is the SEC’s Digital Transfor­mation Portal, which Agama said now supports end-to-end automation of registration and licensing processes. Cap­ital market operators can sub­mit applications, upload re­quired documents, and track approvals entirely online, significantly reducing manu­al processing and eliminating the need for frequent physical visits to the commission.

The portal, he explained, represents a foundational shift in how the regulator engages with market partici­pants, aligning Nigeria’s cap­ital market supervision with global best practices.

Beyond registration, the commission has also deployed a Commercial Paper issuance module, enabling issuers and operators to file documents electronically, monitor prog­ress in real time, and receive approvals digitally.

“Feedback from early users shows a clear improvement in turnaround time,” Agama noted, adding that the digital workflow has enhanced trans­parency and predictability in the approval process.

The SEC is also advancing plans to automate the submis­sion of quarterly and annual returns by capital market op­erators.

According to Agama, struc­tured templates and built-in system checks are being devel­oped to improve data accuracy and consistency.

In addition, a returns ana­lytics dashboard is currently in development to support risk-based supervision and exception reporting, allow­ing the commission to identi­fy red flags early and allocate supervisory resources more efficiently.

“This will strengthen our ability to move from reactive oversight to proactive, da­ta-driven regulation,” the SEC boss said.

To support the growing digital ecosystem, Agama disclosed that the commission has begun upgrading its core IT infrastructure, including servers, storage systems, net­works, and security layers, to enhance speed, reliability, and resilience.

Selective cloud migration is also underway for platforms that require scalability and ex­ternal access, while core inter­nal systems remain on-prem­ise for now, pending further assessment of security and cost implications.

At the same time, the com­mission is strengthening data integrity and cybersecurity frameworks through vul­nerability assessments and planned penetration testing once the automation and mi­gration phases stabilise.

“These efforts show our commitment to building a modern, resilient regulatory environment that supports effi­ciency, investor confidence, and market stability,” Agama said.

Regulating Emerging Technol­ogies

Beyond infrastructure, the SEC DG stressed that Nige­ria’s capital market is clearly on a path toward digital trans­formation but warned that innovation must be matched with robust regulatory frame­works.

He underscored the urgent need for regulatory clarity around advanced technologies such as artificial intelligence (AI), targeted support for smaller firms, and sustained capacity-building initiatives across the market.

“A phased and proportion­ate approach to regulating emerging technologies such as AI is essential, comple­mented by internal readiness through supervisory technol­ogy tools,” he said.

Agama also highlighted the importance of investor education, particularly among younger demographics, not­ing that financial literacy and digital awareness will be critical to future-proof partici­pation and drive fintech adop­tion in the capital market.

 While encouraging opera­tors to embrace automation, AI, and data-driven tools, Agama cautioned that inno­vation must be deployed re­sponsibly.

“Innovation is vital, but it must be accompanied by re­sponsibility,” he said. “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.”

Ultimately, he said, respon­sible technology adoption is about building trust—the cornerstone of any credible capital market.

“Trust thrives on fairness, transparency, accountability, and regulatory compliance,” Agama stressed, urging mar­ket operators to uphold these principles.

According to him, adher­ence will not only protect in­vestors and preserve systemic stability but also strengthen the long-term credibility and global competitiveness of Nigeria’s capital market as it enters a new digital era.