The Securities and Exchange Commission (SEC) has reassured investors of the safety of their funds as it intensifies efforts to regulate the rapidly expanding fintech ecosystem in Nigeria.
Dr. Emomotimi Agama, Director General of SEC, highlighted the Commission’s commitment to enforcing regulations to prevent fund mismanagement and ensure fintech operators align with capital market rules. Speaking over the weekend, Agama emphasised the need for a balanced regulatory framework to foster innovation while maintaining investor protection.
“A conducive regulatory environment is critical to leveraging technology to transform Nigeria’s financial landscape. Fintech operators must adhere to established capital market rules, especially in fundraising activities,” Agama stated.
During a panel discussion at the same event, Hasfat Rufai, SEC’s Director of Registration, Exchanges, and Market Infrastructure Department, stressed the importance of safeguarding investors amid emerging trends in digital investments.
“While these technological advancements offer new opportunities, they also present challenges, particularly in regulation and investor protection,” Rufai noted. She pointed to the rise of digital platforms, increased access to global markets, and growing interest in cryptocurrencies and startups as transformative factors reshaping how Nigerians invest.
Rufai encouraged investors to embrace the evolving digital environment responsibly by leveraging technology, seeking financial knowledge, and making informed decisions.
As fintech continues to disrupt traditional financial systems, SEC’s proactive stance aims to strike a balance between innovation and safety, ensuring a secure and inclusive investment landscape for all stakeholders.
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