The Securities and Exchange Commission (SEC) has said it is about time fintech operators are held to the rules of the capital market, especially in terms of fund-raising.
TheNewsGuru.com (TNG) reports Director-General of SEC, Dr Emomotimi Agama said this in a statement in Abuja on Sunday, while restating the commission’s commitment to investors’ protection, especially with the increasing use of fintech.
Agama affirmed that SEC would enforce regulations in the fintech ecosystem and noted that this would help to curb mismanagement of funds and align operators with existing rules.
The SEC DG stressed that a regulatory environment that is conducive for the innovative use of technology was essential in the drive to transform the country.
According to him, it is time for fintech operators to be held to the rules of the capital market when it comes to fund-raising.
”While these trends bring new opportunities, they also come with challenges, particularly around regulation and investor protection.
”The digital age has transformed the investment landscape, offering greater accessibility, innovation, and opportunity.
”Investors must adapt to this evolving environment by embracing technology, seeking knowledge, and making responsible investment choices.
“The future of investment in Nigeria will likely be driven by the continued rise of technology, young investors, and evolving financial products,” he said.