SEC Nigeria Sets January 31, 2026 Deadline for Capital Market Operator Renewals

The Securities and Exchange Commission (SEC) of Nigeria has announced that all Capital Market Operators (CMOs) must complete their registration renewals for the 2026 fiscal year by January 31, 2026. The renewal period will officially open on January 1 and close at the end of the month, with non-compliance resulting in suspension from legal market activities.

This directive, issued on December 21, 2025, forms part of a comprehensive reform agenda aimed at enhancing transparency, operational efficiency, and regulatory oversight within Nigeria’s capital market ecosystem.

Transition to Fully Digital Registration Processes

Starting in the first quarter of 2026, the SEC will implement a fully digital system for registration renewals and updates to operator records. This initiative replaces the traditional paper-based approach, which has historically caused processing delays and administrative bottlenecks.

Through this new online platform, CMOs will be able to submit applications, upload necessary documentation, and track the status of their renewals in real time. This digital transformation is designed to streamline the process, reduce physical visits to SEC offices, and increase transparency.

Dr. Emomotimi Agama, the SEC Director General, emphasized that these reforms are integral to creating a technology-driven regulatory framework that fosters market expansion and bolsters investor confidence.

Mandatory Compliance and the Digital Transformation Portal

The SEC reiterates that annual renewal of registration is compulsory for all CMOs. Operating without a valid renewal certificate is prohibited and will result in suspension from capital market activities.

To facilitate compliance, the Commission has launched the Digital Transformation Portal, a user-friendly online system that manages the entire registration and licensing process. This platform significantly reduces processing times and minimizes direct interactions with regulatory personnel.

According to Dr. Agama, the portal automates the full lifecycle of registration-from initial application to final approval-enhancing efficiency for both market participants and regulators.

Accelerated Approvals and Minimization of Delays

In addition to registration renewals, the SEC has digitized other critical regulatory functions, including the issuance of Commercial Papers. Operators can now electronically submit documents, monitor application progress, and receive approvals without physical paperwork.

Preliminary feedback indicates that these digital enhancements have shortened turnaround times and alleviated administrative hurdles that previously impeded market operations.

Looking ahead, the SEC plans to automate the submission of quarterly and annual financial returns using standardized templates and integrated accuracy checks. A dedicated analytics dashboard is under development to enable proactive risk monitoring and early detection of compliance issues.

Enhancing IT Infrastructure and Cybersecurity Measures

To support these digital initiatives, the SEC is upgrading its IT infrastructure, including servers, storage solutions, network capabilities, and security protocols. Some systems are being migrated to cloud environments to improve scalability and accessibility, while core applications remain on-premises pending further security evaluations.

Dr. Agama highlighted ongoing efforts to fortify cybersecurity, including vulnerability assessments and planned penetration testing once the new systems stabilize. Safeguarding data integrity and system security is paramount to maintaining investor trust and market credibility.

Promoting Ethical Innovation and Sustaining Market Confidence

While embracing technological advancements, the SEC stresses the importance of responsible adoption. Dr. Agama pointed to emerging technologies such as artificial intelligence, underscoring the need for clear regulatory frameworks and capacity-building initiatives, particularly for smaller market operators, to ensure equitable and compliant usage.

He encouraged CMOs to leverage automation while upholding principles of fairness, transparency, accountability, and regulatory adherence. Investor trust remains the cornerstone of a robust and reputable capital market.

With the January 31, 2026 deadline approaching, the SEC advises all Capital Market Operators to initiate renewal preparations promptly and utilize the new digital platforms to avoid last-minute complications and guarantee seamless operations throughout the year.