SEC Nigeria Mandates January 31 Deadline for 2026 CMO Renewals Amid Push for Full Digital Overhaul

By Emmanuel Kwada 

Nigeria’s Securities and Exchange Commission (SEC) has issued a stern reminder to all Capital Market Operators (CMOs): renew your registrations by January 31, 2026, or risk being barred from operating in the nation’s capital market.

The announcement, made in a statement released on Sunday, underscores the regulator’s accelerating drive toward a fully digital, transparent, and efficient capital market ecosystem. Starting in the first quarter of 2026, the SEC will transition to electronic processing of all registration applications and updates, eliminating the delays and bottlenecks associated with manual submissions.

SEC Director-General, Dr. Emomotimi Agama, highlighted these reforms during a recent interview in Abuja, emphasizing the Commission’s commitment to technology-driven regulation.

“We are taking deliberate steps to make regulatory processes faster, more transparent, and technology-driven,” Dr. Agama stated.

At the heart of this transformation is the SEC’s Digital Transformation Portal, which has already automated end-to-end registration and licensing workflows. CMOs can now submit applications, upload documents, and track approval statuses entirely online—drastically reducing processing times and eliminating the need for physical visits to the Commission’s offices.

The portal also features an automated module for Commercial Paper issuance, allowing operators to file documents, monitor progress, and receive approvals electronically. Early adopters have reported significant improvements in turnaround times and fewer administrative hurdles.

Looking ahead, the SEC plans further enhancements, including automated submission of quarterly and annual returns using structured templates with built-in accuracy checks. A new returns analytics dashboard is in development to support risk-based supervision and real-time exception reporting.

To bolster these digital initiatives, the Commission is upgrading its IT infrastructure—encompassing servers, storage, networks, and security frameworks. Selective cloud migration is underway for scalable platforms, while core systems remain on-premise pending thorough security and cost assessments.

Dr. Agama stressed the importance of robust cybersecurity measures, including ongoing vulnerability assessments and planned penetration testing. “Responsible technology adoption is central to maintaining investor trust—the cornerstone of our markets,” he noted.

The SEC DG also called for regulatory clarity on emerging technologies like artificial intelligence, alongside capacity-building programs tailored for smaller operators. While innovation remains a priority, he insisted that ethical, secure, and compliant deployment is non-negotiable.

“As operators embrace automation, AI, and data-driven tools, they must ensure ethical, secure, and compliant deployment,” Dr. Agama urged. He encouraged CMOs to prioritize fairness, transparency, accountability, and compliance to safeguard investors and enhance the long-term credibility of Nigeria’s capital market.

This deadline and digital shift come as the SEC continues to implement broader reforms under the recently enacted Investments and Securities Act (ISA) 2025, aiming to align Nigeria’s capital market with global standards and foster greater investor confidence. CMOs are advised to act promptly to ensure uninterrupted operations in 2026.