Nigeria’s Securities and Exchange Commission has met with over 500 fintech companies to balance technological innovation with strong investor protection in the capital market.
The Commission held its first Regulator/Fintech Clinic in Abuja, bringing together fintech operators, regulators, and market stakeholders to discuss digital financial products and governance frameworks.
Nigeria’s digital finance sector is growing rapidly, with more citizens gaining access to financial services and investment options through mobile technology and online platforms.
However, the Commission stated that this growth must follow rules that keep investors safe, noting that the rise of fintech has created new risks including unregistered investment platforms.
To address these challenges, the Commission is studying how these firms operate and what products they offer to develop appropriate regulatory responses.
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Director-General Emomotimi Agama stated that the goal is to align innovation with integrity, growth with governance, and technology with trust in the Nigerian capital market.
Executive Commissioner Bola Ajomale added that the Commission needs to understand what these firms are bringing to market before it can create proper rules for their oversight.
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The Clinic will help clarify new regulations under the Investments and Securities Act 2025, which gives the Commission expanded authority to oversee digital investment platforms.
Agama noted that early engagement with firms prevents costly mistakes, stressing that building compliance into products from the start works better than fixing problems later.
The Commission created a dedicated fintech department in 2018 to track new technologies and introduced crowdfunding rules in 2021 to help small businesses raise money while protecting investors.
Agama stressed that the Clinic is about dialogue rather than punishment, encouraging fintech firms to view regulation as an opportunity to improve their business models and follow market rules.
