The Securities and Exchange Commission has issued a reminder to all Capital Market Operators to renew their registration for the year 2025 no later than January 31, 2025.
This directive was announced in a recent circular, where the Commission emphasized that the annual registration renewal process would run from January 1 to January 31, 2025.
The SEC explained that the renewal requirement is part of its commitment to ensuring that only qualified and ethical individuals and organizations operate within the Nigerian capital market.
The circular stated, “This is to inform all Capital Market Operators (CMOs) and the general public that the annual renewal of registration of CMOs for the year 2025 will commence from January 01, 2025.
“All CMOs applying 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 warned that CMOs who fail to complete their registration renewal by the deadline would face penalties and might be prohibited from engaging in capital market activities.
The SEC had previously reintroduced the periodic renewal of registration for CMOs in 2021.
This decision was motivated by the requirement to maintain a trustworthy database of registered and operating operators in Nigeria’s capital market.
According to the Commission, the annual renewal process is intended to offer accurate and up-to-date information about capital market operators for use by domestic and international investors, regulatory organisations, and the general public.
The renewal also seeks to limit unethical actions by CMOs that might undermine investor confidence and adversely affect the market. Additionally, it enhances the SEC’s capacity to oversee and regulate CMOs efficiently.
To promote efficiency and transparency, the SEC revised its regulations to transition the annual renewal procedure to an electronic format, optimizing operations and improving oversight.