Digital Investment Platform, Chaka, has announced that it has obtained a Digital Sub-Broker/Sub-Broker Serving Multiple Brokers Through a Digital Platform License from the Securities Exchange Commission of Nigeria (SEC).
A statement on Wednesday said this makes Chaka the first recipient of the newly created license by the SEC.
The new licence, according to the company, is part of the commission’s efforts to foster regulation within the investment-tech space, to ensure the safety of the investing public while encouraging innovation within the sector.
Commenting on the new license acquisition, Tosin Osibodu, Co-founder & CEO, Chaka Technologies said “We are honoured to be the foremost fintech company to receive SEC’s first Fintech license in Nigeria, the Digital Sub-Broker license.
“For us, this is an important step towards achieving our vision to level the playing field for African investors, and a defining moment for the future of digital investments in Nigeria, and Africa at large.
“Receiving this new license will enable us to continue to power on our mission to enable digital investing for businesses and individuals in the country and beyond.”
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He added, “As Nigeria remains an attractive hive for fintech innovation, this new license from the SEC is the much-needed guide to help safeguard the investing public amid the ever-evolving landscape.
“This license represents a significant milestone for all players within this industry, and we are confident that it will strengthen efforts towards fostering further growth and transformation.
“We are proud to set this precedent and are excited for the long-term impact of this new regulation and what it signals for the future.
“We are also thankful for the continued trust from our investors and partners, as we remain committed to fulfilling their needs”, Osibodu said.
