The Securities and Exchange Commission (SEC) has urged registrars and other capital market operators (CMOs) to embrace innovation and technology as a means to stay competitive and sustain investor confidence in Nigeria’s rapidly evolving financial landscape.
Speaking at the 14th Annual Conference and Presidential Investiture of the Institute of Capital Market Registrars (ICMR) in Lagos, SEC Director-General Emomotimi Agama, represented by Executive Commissioner (Operations) Bola Ajomale, tasked industry players to “drive innovations and explore new opportunities in unlocking current changes in the global market.”
Agama cautioned that failure to adapt could leave registrars vulnerable to being overtaken by emerging, unregulated players. “If the registrar profession does not evolve, unregulated entities could take over their functions,” he warned.
The conference, themed “Unlocking Global Value: The Evolving Market Role of Capital Market Registrars in Trust, Efficiency and Innovation,” focused on the urgent need for Nigeria’s capital market to align with international standards. Participants discussed how embracing digital transformation could strengthen efficiency, transparency, and investor trust.
Group Chairman of the Nigerian Exchange Group (NGX Group), Umaru Kwairanga, described registrars as “the quiet custodians of confidence and credibility,” noting that their accuracy and efficiency are central to corporate governance and market integrity.
Dangote Industries Limited’s Group Managing Director, Olakunle Alake, identified three strategic priorities for registrars:
Digitisation and cybersecurity: Embrace digital platforms, but with robust safeguards to protect data integrity.
Capacity building and training: “Continuous education must be non-negotiable.
Global benchmarking: Aim not just to meet local standards, but to benchmark against global best practices.
Also speaking, Toyin Sanni, Founder and Group CEO of Emerging Africa Group, urged registrars to evolve into trusted, tech-enabled partners in the investment value chain, capable of supporting deeper market participation and investor satisfaction.
Agama reaffirmed SEC’s commitment to building a robust, technology-driven market ecosystem that can support innovation, protect investors, and encourage global competitiveness.
By promoting technological innovation among registrars and CMOs, the SEC aims to enhance operational efficiency, reduce transaction costs, and improve transparency across Nigeria’s capital market. This reform could attract foreign investment, stimulate job creation, and strengthen the country’s position in regional and global financial markets.
In essence, the SEC’s message is clear: Nigeria’s capital market must innovate or risk being left behind in the global race for financial modernization.
