The Securities and Exchange Commission (SEC) has announced that banks have raised approximately N1.682 trillion through e-offering as part of their recapitalisation efforts. Dr. Emomotimi Agama, the Director-General of SEC, made this disclosure in a statement issued on Wednesday in Lagos.
The Central Bank of Nigeria (CBN) had earlier set new guidelines for the minimum capital requirements for banks operating in the country. These requirements, which vary between N50 billion and N500 billion based on the type of banking license, are expected to result in the mobilisation of about N4.14 trillion by the deadline of March 31, 2026.
According to the CBN, the recapitalisation initiative aims to strengthen financial institutions and support President Bola Tinubu’s vision of achieving a $1 trillion economy.
E-Offering Platform Drives Success
Dr. Agama highlighted the significant role of technology in the success of the recapitalisation process, particularly the launch of the e-offering platform. He explained that the platform facilitated the process, enabling the successful raising of funds through 12 applications from nine banks, with several additional applications still ongoing.
“Technology is a key enabler in the capital market and a critical tool for growth,” he said. “The e-offering platform allowed banks to raise over N1.7 trillion, showcasing the potential of technology in transforming the market.”
Technological Innovation in Capital Markets
Dr. Agama also noted that SEC continues to adopt technological solutions to improve its operations, including market surveillance, monitoring, and policy implementation. These measures aim to enhance the capital market’s efficiency and attract more investors.
“We are leveraging technology to drive market growth and streamline processes,” he said. “Our initiatives include reduced time-to-market, electronic filing systems, and enhanced regulatory frameworks. These efforts are designed to ensure the Nigerian capital market remains competitive and attractive.”
Economic Benefits of Improved Market Efficiency
The SEC Director-General underscored the broader economic advantages of a more efficient capital market, such as:
- Increased Liquidity: Faster capital access enhances liquidity within the market.
- Investor Confidence: Streamlined processes bolster trust and encourage investments.
- Competitiveness: Efficient markets attract global companies and investors, fostering growth.
- Economic Growth: Quick access to capital helps businesses allocate resources more effectively, driving overall development.
Path to Economic Diversification
Dr. Agama emphasized the need to diversify Nigeria’s economy beyond oil dependency. This would involve investing in infrastructure, human capital, and innovation to improve the business environment. He also stressed the importance of reducing regulatory barriers and promoting financial inclusion, particularly for SMEs and individuals.
“With commitment from the government and private sector, the $1 trillion economy is achievable,” he affirmed.
The SEC remains dedicated to implementing reforms that position Nigeria’s capital market as a catalyst for sustainable economic growth and development.
 has announced that banks have raised approximately N1.682 trillion through e-offering as part...){kind=link}