The Securities and Exchange Commission has issued a stern warning to capital market operators regarding the mandatory renewal of their registration for 2025.
The Commission emphasized that operators who fail to comply by January 31, 2025, will face significant penalties, including exclusion from market activities.
In a circular released on Sunday, SEC reminded CMOs that the renewal process, which commenced on January 1, must be completed within the stipulated timeframe.
“All CMOs applying for renewal are required to include their 2025 annual subscription receipt from their respective trade groups as part of their application,” the Commission stated.
SEC also clarified that the renewal must be processed through its electronic portal, highlighting that any operator without valid registration after the deadline will be sanctioned.
The renewal policy, first reintroduced in 2021, aims to enhance transparency and accountability in the Nigerian capital market. According to SEC, the initiative is intended to strengthen investor confidence, promote market integrity, and improve oversight.
“The aim is to provide updated information on operators in the Nigerian capital market for reference and other official purposes by local and foreign investors, other regulatory agencies, and the public,” SEC explained.
The Commission further noted that the measure has been instrumental in reducing unethical practices among market operators that could undermine investor trust and the overall integrity of the market.
SEC also mandated all operators to adopt an enterprise risk management framework that aligns with international standards, ensuring better supervision and monitoring within the sector.
