The Securities and Exchange Commission (SEC) has commenced a comprehensive technology adoption survey targeted at registered Capital Market Operators (CMOs), in a bid to boost innovation and efficiency within the Nigerian capital market.
In a circular released on Wednesday, the Commission said the assessment aims to evaluate how extensively CMOs are embracing advanced technologies in their operations.
“The following technology adoption survey is designed by the Commission to assess the adoption of advanced technologies among registered Capital Market Operators (CMO),” the notice reads.
The Commission urged all registered CMOs to access and complete the survey with their current access credentials via the SEC’s official website.
The SEC added that “the survey will be available for two weeks, between 5-20 May 2025.” This is even as the Commission provided an official channel for the CMOs to direct their enquiries.
The director-general of the SEC, Emomotimi Agama had recently urged stakeholders in the capital market to embrace innovation as a catalyst for growth, increased efficiency, heightened transparency, and resilience.
He disclosed that the SEC is aware of the new financial products and services that are emerging due to technology and is committed to adapting its regulations to address these innovations.
According to him, the Commission has a three-pronged approach to regulating innovation: safety, market deepening, and solutions to problems. This has always, and will continue to help create a more efficient and reliable capital market ecosystem.
“In the efforts to support the innovation and growth in the market, the SEC had established a programme of assessment called Regulatory Incubation to help new FinTech businesses.
The programme allows them to operate for one year within a highly fortified and limited regulatory perimeter while the SEC develops applicable rules that address these innovative technologies. The incubation programme helps ensure investor protection and market stability while fostering financial technology advancements in the Nigerian Capital Market.”
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