The Securities and Exchange Commission (SEC) of Nigeria has announced plans to integrate blockchain technology into its regulatory framework to enhance efficiency and investor confidence in the capital market. The move aligns with global trends as financial regulators increasingly adopt blockchain for transparency and security in market transactions.
According to SEC Director-General Lamido Yuguda, the commission is collaborating with international regulatory bodies to ensure that Nigeria’s capital market remains competitive and attractive to investors. The adoption of blockchain is expected to streamline processes, reduce fraud, and improve compliance monitoring within the sector.
Dr. Emomotimi Agama, the Executive Commissioner for Operations at SEC, highlighted the advantages of blockchain in improving capital market efficiency. He emphasized that the technology would aid in real-time verification of transactions, enhance record-keeping, and facilitate smoother regulatory oversight. With blockchain’s decentralized nature, SEC aims to create a more secure and transparent financial ecosystem that protects investors.
The commission has assured stakeholders that the integration will be carried out in phases, with appropriate guidelines to govern digital assets and securities. This initiative comes as Nigeria seeks to strengthen its financial infrastructure and boost investor trust amid growing interest in digital finance.
By leveraging blockchain, SEC aims to position Nigeria’s capital market as a forward-thinking hub that aligns with global best practices, ultimately fostering economic growth and financial inclusion.
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