The Securities and Exchange Commission (SEC) has begun implementing a fully electronic registration system for capital market operators, marking a significant step in modernising Nigeria’s capital market and boosting regulatory efficiency.
In a statement released on Wednesday, the Commission said the e-Registration platform, accessible via its ePortal, will allow designated regulatory services to be handled entirely online. Capital Market Operators (CMOs) can now submit applications, undergo regulatory review, receive approvals and get decisions communicated digitally.
The move eliminates manual processing for the services covered in this phase. It is expected to simplify interactions with the regulator, cut administrative bottlenecks, shorten processing times and give applicants clearer visibility into the status of their applications.
SEC said the shift to a fully digital system will improve operational efficiency and strengthen oversight through standardised workflows, electronic documentation, secure digital record-keeping and better 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 initiative aligns with SEC’s goal of using technology to raise market efficiency, ease of doing business and service quality for stakeholders. It is also expected to improve the integrity of regulatory processes by reducing delays tied to paper-based systems and enhancing the quality of data available for decision-making. The platform will further support regulatory analytics and future innovations in market oversight.
Implementation will occur in phases to ensure a smooth transition while preserving the stability and integrity of regulatory processes. The current phase covers only post-registration services for existing Capital Market Operators. Applications for new entrants into the Nigerian capital market are not yet included; the Commission said it will announce the start of electronic processing for new registrations at a later date.
SEC urged all Capital Market Operators to familiarise themselves with the new platform and adhere to the implementation timelines. It reaffirmed its commitment to reforms that promote innovation, improve regulatory service delivery, strengthen market infrastructure, enhance transparency and boost investor confidence in Nigeria’s capital market.
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