SEC Sets January 31, 2025, Deadline for Capital Market Operators’ Registration Renewal

SEC Enforces Annual Registration Renewal to Strengthen Capital Market Oversight

The Securities and Exchange Commission (SEC) has issued a reminder to all Capital Market Operators (CMOs) in Nigeria to complete their annual registration renewal for 2025 on or before January 31, 2025. The directive, outlined in a circular, underscores the importance of ensuring that only qualified and compliant operators remain active in the Nigerian capital market.

The renewal process, scheduled to run from January 1 to January 31, 2025, is part of SEC’s broader efforts to strengthen regulation, supervision, and the integrity of the market.

Details of the Renewal Process
The SEC’s circular stated:
“This is to inform all Capital Market Operators (CMOs) and the general public that the annual renewal of registration for CMOs for the year 2025 will commence from January 1, 2025.

“All CMOs applying for renewal must include their 2025 annual subscription receipt from their respective trade groups as part of their application.

“In line with the Commission’s Rules & Regulations, all CMOs are to complete the renewal process via the registration portal at www.eportal.sec.gov.ng on or before January 31, 2025. For inquiries or support, please contact registration@sec.gov.ng.”

The Commission further warned that operators who fail to renew their registration within the stipulated timeframe risk penalties and exclusion from participating in capital market activities.

Ensuring Accountability and Market Integrity
SEC’s reintroduction of the periodic registration renewal in 2021 was aimed at maintaining an updated and reliable database of registered and active CMOs in Nigeria. The initiative also seeks to bolster investors’ confidence by minimizing unethical practices and promoting transparency in the market.

The renewal process provides a comprehensive reference tool for local and international investors, regulatory agencies, and the general public, ensuring that all market operators meet the required standards for operation.

Improved Monitoring and Digital Efficiency
By mandating an annual renewal, the SEC aims to enhance its supervisory capabilities and foster a robust capital market ecosystem. The electronic renewal process ensures efficiency, reducing the likelihood of delays or errors and enabling the Commission to maintain real-time records of market participants.

Commitment to Investor Protection
According to SEC, the annual renewal requirement aligns with its mission to safeguard investors and uphold the integrity of the Nigerian capital market. By identifying and penalizing non-compliant operators, the Commission aims to mitigate risks and strengthen the market’s overall framework.

With the January 31, 2025, deadline fast approaching, SEC has called on all CMOs to act promptly to avoid disruptions in their operations and maintain their eligibility in the evolving Nigerian capital market.