The Securities and Exchange Commission (SEC) Nigeria has restated its commitment to ensure investors’ protection, especially with the increasing use of financial technology (Fintech) tools and solutions in investment transactions globally.
Speaking at the one day capacity training for financial journalists in Abuja, the Director-General of the commission, Dr. Emomotimi Agama, said the Commission would enforce regulations in the fintech ecosystem to curb mismanagement of funds and align operators with existing rules.
Agama pointed out that a regulatory environment that is conducive for the innovative use of technology remained essential in the commission’s drive to transform Nigeria’s investment landscape, adding that it has become imperative for fintech operators to strictly comply with the rules of the capital market when it comes to fundraising.
Speaking during a panel discussion at the event, the commission’s Director, Registration, Exchanges and Market Infrastructure Department, Mrs. Hasfat Rufai, said despite the new disruptions, the SEC would continue to ensure that investors do not lose their investments.
According to her, while these trends bring new opportunities, they also come with challenges, particularly around regulation and investor protection.
The investment expert maintained that the rise of digital platforms, access to global markets, and growing interest in cryptocurrencies, fintech, and startups had reshaped how Nigerians invest.
She clarified: “The digital age has transformed the investment landscape, offering greater accessibility, innovation, and opportunity. Investors must adapt to this evolving environment by embracing technology, seeking knowledge, and making responsible investment choices.
“The future of investment in Nigeria will likely be driven by the continued rise of technology, young investors, and evolving financial products”, Rufai stressed.
In in his presentation on the paper titled “Commodities Market as an Alternative Investment-Leveraging Fintech” Abdulraham Abubakar, said that Fintech had further helped to enhance standardization in the commodities market.
According to him, by leveraging on fintech it has helped to connect storage facilities electronically in exchanges.
Abubakar said the Commission had consistently made improvements on how it regulates the markets due to their dynamic nature.
It would be recalled that the Commission recently engaged the Toronto Center to assist the Commission in improving its Risk Based Supervision (RBS) regime.
The exercise is expected to provide insights into enhancing the in Commission’s supervision capabilities, particularly for market infrastructure and operators.
