The commission has also made progress in registering Capital Market Operators, including onboarding FinTechs under its Regulatory Incubation Programmes.
Abuja, Nigeria – The Securities and Exchange Commission (SEC) has revealed that banks and other companies have raised a total of N2.7 trillion from the capital market in the first 11 months of 2024.
This figure was generated through various investments, securities, and financial instruments aimed at expanding business operations, supporting economic growth, and enhancing financial market activities.
According to the SEC Director-General, Dr Emomotimi Agama, about N1.7 trillion of the total amount was raised by banks through their recapitalisation exercise. The remaining amount was raised through equity capital, rights issues, and public offers.
The SEC has taken significant steps to reposition its operations, including the creation of specialised departments such as the Fintech and Innovation Department, Derivatives and Risk Management Department, and the Office of Municipal Bond.
The commission has also made progress in registering Capital Market Operators, including onboarding FinTechs under its Regulatory Incubation Programmes. Additionally, the SEC is working with the Nigerian Financial Intelligence Unit to ensure Nigeria exits the FATF grey list.
The SEC has committed to implementing its Revised Capital Market Masterplan (2021-2025), prioritising stakeholder engagement, awareness creation, capacity building, and developing regulatory frameworks that support innovative financial products.
The SEC’s 2025 objectives include enhancing market transparency and confidence, leveraging financial technology to drive inclusion and innovation, and strengthening collaboration with domestic and international stakeholders to maintain financial stability
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