The Securities and Exchange Commission has unveiled new measures to simplify the listing process for companies on the Nigerian Exchange.
This initiative aims to enhance the attractiveness and efficiency of the Nigerian capital market.
The announcement follows a push from SEC Director-General, Dr. Emomotimi Agama, who has advocated for increased corporate participation in the exchange, according to Nairametrics.
This effort aligns with the Central Bank of Nigeria’s $1 trillion economic goal, designed to position the capital market as a pivotal driver of economic growth.
In a September 2024 statement, Dr. Agama highlighted the commission’s plans to streamline the registration process, introduce electronic filing systems, and update regulatory frameworks.
He stressed that these changes are expected to improve market liquidity, foster economic development, and boost investor confidence.
“The Commission has been actively digitizing its operations, including the submission and processing of applications for securities registration, to reduce delays caused by manual processes.
“This involves the use of electronic platforms for document submissions and approvals, which not only speeds up the process but also improves transparency,” he said.
The SEC Director-General
noted that these reforms are designed to simplify regulatory requirements and facilitate a smoother approval process.
Additionally, the SEC has established frameworks to support the ongoing banking recapitalization process, ensuring a transparent and efficient capital-raising environment for banks.
On August 15, the commission approved recapitalization offers from commercial banks, marking a key milestone in the broader recapitalization initiative.
These measures are expected to improve market liquidity, support economic growth, and reinforce investor confidence in the Nigerian capital market.
