The Securities and Exchange Commission (SEC) has launched a fully electronic registration process for Capital Market Operators (CMOs), marking a major milestone in its drive to modernise Nigeria’s capital market and improve regulatory efficiency through digital innovation.
In a statement issued on Wednesday, the Commission announced that the new electronic registration (e-Registration) platform, deployed through its ePortal, will enable designated regulatory services to be completed entirely online, eliminating manual processing for the services covered under the current phase.
According to the SEC, the platform allowed existing Capital Market Operators to complete registration-related processes online, including application submission, regulatory review, approvals and communication of decisions, thereby providing a faster and more transparent regulatory experience.
The Commission said the initiative is expected to simplify regulatory interactions, reduce administrative bottlenecks, shorten processing timelines and give applicants real-time visibility into the status of their applications.
It noted that the migration to a fully digital registration system will enhance operational efficiency while strengthening regulatory oversight through standardised workflows, electronic documentation, secure digital record management and improved audit trails.
Describing the initiative as a key component of its digital transformation agenda, the SEC said the new platform represents a significant step towards creating a seamless technology-driven regulatory ecosystem that promotes efficiency and strengthens regulatory effectiveness.
The Commission explained that the e-Registration platform aligns with its strategic objective of leveraging technology to improve market efficiency, enhance the ease of doing business and deliver better services to stakeholders.
Beyond improving operational efficiency, the SEC said the digital platform will enhance the integrity of regulatory processes by reducing delays associated with paper-based documentation while improving the quality of regulatory data for informed decision-making.
The Commission added that the platform also provides a stronger foundation for regulatory analytics and future technological innovations aimed at improving oversight of Nigeria’s capital market.
According to the SEC, implementation of the electronic registration process will be carried out in phases to ensure a smooth transition for market participants while preserving the stability and integrity of regulatory processes.
It clarified that the current phase is limited to post-registration services for existing Capital Market Operators, stressing that applications for the registration of new entrants into the Nigerian capital market are not yet covered. The Commission added that electronic processing for new registration applications will commence at a later date.
The SEC urged all Capital Market Operators to familiarise themselves with the new platform and comply with the implementation timelines to ensure a seamless transition.
Reaffirming its commitment to innovation and market reforms, the Commission said the initiative forms part of its broader modernisation agenda aimed at improving regulatory efficiency, strengthening market infrastructure, enhancing transparency, supporting the continued growth and resilience of Nigeria’s capital market, and reinforcing investor confidence.
