The Securities and Exchange Commission (SEC) has commenced the implementation of a fully electronic registration process for capital market operators 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 a significant step in its digital transformation programme.
According to the SEC, the platform enables Capital Market Operators to complete designated registration processes entirely online, covering application submission, regulatory review, approvals and communication of decisions.
The regulator said the current phase eliminates manual processing for the services covered by the platform, reducing the need for paper-based documentation and physical interactions.
The SEC said the initiative is expected to simplify regulatory interactions, reduce administrative bottlenecks and shorten processing timelines for market operators.
It added that applicants would have greater visibility into the status of their applications, while the digital system would improve operational efficiency 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 said the e-Registration platform aligns with its strategic objective of leveraging technology to improve market efficiency, enhance the ease of doing business and provide better services to stakeholders.
Beyond improving processing times, the Commission said the digital system would strengthen the integrity of regulatory processes by reducing delays associated with paper-based documentation and improving the quality of regulatory data available for decision-making.
The regulator added that the platform would provide a stronger foundation for regulatory analytics and future technology-driven innovations aimed at improving oversight of Nigeria’s capital market.
However, the SEC stressed that the implementation is being rolled out in phases to ensure a smooth transition for market participants while maintaining the stability and integrity of regulatory processes.
The Commission clarified that the current phase is limited to post-registration services for existing capital market operators.
It noted that applications for the registration of new entrants into the Nigerian capital market are not yet covered by the electronic process.
According to the SEC, the commencement of electronic processing for new registration applications will be announced at a later date.
The Commission urged all market operators to familiarise themselves with the new platform and comply with the implementation timelines to ensure a seamless transition to electronic regulatory processing.
The SEC said the initiative forms part of its broader modernisation agenda aimed at improving regulatory efficiency, strengthening market infrastructure and enhancing transparency.
The Commission added that the digital transformation would support the continued growth, resilience and global competitiveness of Nigeria’s capital market while reinforcing investor confidence.
