The Securities and Exchange Commission (SEC) on Sunday reminded Capital Market Operators (CMOs) to renew their registration on or before January 31, 2025,
Citing a recent circular, the commission said the annual renewal of registration, which commenced on January 1, is to ensure that only fit and proper persons operate in the Nigerian capital market.
According to the SEC, such application “for renewal are required to 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 process of renewal of registration for 2025 on or before January 31, 2025 via the renewal of registration portal www.eportal.sec.gov.ng. For enquiries or support in completing the process, please contact registration@sec.gov.ng.”
The commission emphasized that operators without valid registration will be penalized, and may be excluded from carrying out capital market activities.
The SEC had in 2021 re-introduced periodic renewal of registration by capital market operators, which was premised on the need to have a reliable data bank of all CMOs registered and active in the Nigerian capital market.
The aim was 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.
The renewal was also introduced to increasingly reduce incidences of unethical practices by CMOs such as may affect investors’ confidence and impact negatively on the Nigerian capital market, as well as strengthen supervision and monitoring of CMOs by the commission.
Consequently, the SEC amended its rules and re-introduced the requirement for yearly renewal of registration by all CMOs, which is carried out electronically in order to ensure efficiency.