The Securities and Exchange Commission (SEC) has honest honest as of late introduced the implementation of recent measures geared in direction of simplifying the course of for firms to list their shares on the Nigerian Exchange.
This initiative is section of broader efforts to support the good looks to be like and effectivity of the Nigerian capital market.
The transfer follows a name from the SEC’s Director-Total, Dr. Emomotimi Agama, for extra firms to list on the alternate.
This is in maintaining with the Central Bank of Nigeria’s (CBN) $1 trillion economic purpose, which seeks to bolster the nation’s capital market as a severe driver of economic enhance.
In September 2024, Dr. Agama outlined the price’s efforts, which embrace streamlining the registration course of, introducing electronic submitting methods, and updating regulatory frameworks.
Assertion from Director-Total, SEC
Dr. Agama emphasised that the faster checklist course of will boost market liquidity, promote economic enhance, and support investor self assurance. He acknowledged:
“The Commission has been actively digitizing its operations, including the submission and processing of capabilities for securities registration, to nick delays attributable to handbook processes.”
He also highlighted the characteristic of technology in automating certain procedures, which reinforces transparency.
“This involves the usage of electronic platforms for doc submissions and approvals, which no longer simplest accelerates the course of but additionally improves transparency,” he added.
Additional, Dr. Agama illustrious that the SEC has undertaken important regulatory reforms to simplify the approval course of. These reforms embrace updating solutions to focal point on unusual market realities and adopting global simplest practices that promote effectivity.
What to grab
- The SEC has developed frameworks for the continuing banking recapitalization course of, guaranteeing a refined and transparent capital-raising course of for banks.
- On August 15, the price current recapitalization provides received from commercial banks, marking a important step within the recapitalization exercise.
- A digitalization force is being applied by the SEC, including electronic submission and processing of capabilities for securities to decrease delays.
- The price introduced a checklist review for the registration of mounted-earnings securities, which has tremendously shortened review and approval timelines.
Dr. Agama extra illustrious that the SEC is committed to rising certain swift issuance processes for firms wishing to enter the market, with determined timelines for approvals.
He assured that the price would handbook applicants during the course of, guaranteeing properly timed feedback and transparency for the length of.
These reforms are anticipated to provide the Nigerian capital market extra aggressive and efficient while positioning it as a key participant in attaining Nigeria’s broader economic objectives.
