Monday, August 4, 2025
23.6 C
Lagos

SEC, NGX Group Reinforce Commitment to Capital Market Digital Transformation

The Securities and Exchange Commission (SEC) and Nigerian Exchange Group Plc (NGX Group) have reaffirmed their dedication to the comprehensive digitisation of the capital market, aligning with the transformation strategy outlined in the revised Capital Market Masterplan.

The announcement came during a press briefing and stakeholder engagement session held at the Nigerian Exchange Group House in Lagos on Wednesday, 26 June 2024. Both organisations detailed their collaborative efforts to develop a digital solution aimed at transforming the primary market equity capital-raising process, with a focus on public offers and rights issues.

Subject to SEC approval, this innovative platform represents a significant advancement in digitising the capital raising process for Issuers. Stakeholders are expected to benefit from enhanced efficiency, streamlined due diligence capabilities, ease of use and accessibility, faster information dissemination, and seamless compliance with regulatory requirements, among other features.

Dr. Emomotimi Agama, Director-General of SEC, addressed stakeholders, stating: “I would like to commend NGX Group and all partners on this development. This digital transformation initiative is a testament to our shared commitment to fostering an innovative, efficient, and reliable capital market, embedded in the Capital Market Masterplan. By leveraging technology, we can attract the younger generation of investors, enhance regulatory oversight and create a world-class market. This digitisation will play a crucial role in setting a new standard for capital raising in Nigeria and enable the capital market support the achievement of the US$1 trillion economy target of the current administration.”

Temi Popoola, Group Managing Director/Chief Executive Officer of NGX Group, emphasised the platform’s significance, stating, “This platform marks a pivotal moment in the evolution of the Nigerian capital market. With the support of the regulator and our stakeholders, we have developed an end-to-end digitised market infrastructure platform for distributing financial products, in this case public offers and rights issues. I can assure the investing public that robust payment systems, comprehensive Know Your Customer protocols, and strong fraud and risk management measures are fully integrated, also ensuring standard capital market intermediation is upheld without compromise.”

The digital platform aims to boost retail participation in the capital market, promote financial inclusion, and further deepen the pool of available capital. As banks seek to meet their updated minimum capital requirements through the primary markets, SEC and NGX Group have pledged to ensure an end-to-end streamlined process to assist banks and other issuers in achieving their business goals.

The collaborative effort between SEC and NGX Group marks a significant step forward in the modernisation of Nigeria’s capital market infrastructure, promising to enhance efficiency, transparency, and accessibility for all market participants.

 

spot_img
spot_img

Hot this week

Investor Confidence: Stanbic IBTC Holdings Surpasses ₦100 Stock Price Threshold

Stanbic IBTC Holdings Plc has achieved a remarkable milestone,...

Leadway Assurance Partners Ecobank to Expand Access to Tailored Insurance Solutions

Leadway Assurance, Nigeria's leading insurance provider, has formally entered...

ICAN Fidelity Bank Chapter Chair to Focus on Capacity Building, Professional Excellence

L-R: Chairman of the Occasion and Regional Bank Head...

Sterling HoldCo Delivers 157% Profit Growth in Half-Year 2025

Sterling Financial Holdings Company Plc has reported a 157%...

SEC: Why We Granted “No Objection” to First Holdco Transaction

The Securities and Exchange Commission (SEC) Nigeria wishes to...

Topics

Adeosun, Kari for NIA Chairman’s Investiture on Aug 16

The Nigerian Insurers Association [NIA] will hold an investiture luncheon in honour of its 22nd Chairman, Mr. Eddie Efekoha, on Tuesday, August 16, 2016 at the Grand Ball Room, Eko Hotel & Suites, Victoria Island, Lagos at 11.30 am prompt.

Global Business Forum on Africa to Host 5 Heads of State

The 4th Global Business Forum on Africa is set to...

NCC, NIRSAL, NCDMB, NNPC, NLNG to Lead Partners @GOCOP Conference

The sixth annual conference of the Guild of Corporate...

Ford Atlas Concept: The Future of Pickups

Ford Atlas Concept: The Future of Pickups The Ergonomic Interior Ford...

Annuity Customers Pass Vote of Confidence on AIICO Insurance

AIICO Insurance’s customers holding the company’s Annuity policy have...

Sovereign Trust Insurance Reports 23% Growth in Revenue in 2023

Sovereign Trust Insurance Plc recently released its 2023 audited...

MTN, FIRS Tango over N330bn Fine Tax

Our attention has been drawn to media reports regarding...
spot_img

Related Articles

Popular Categories

spot_imgspot_img