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SEC opens portal for fintech operators

Weeks after announcing the registration of five fintech companies, the Securities and Exchange Commission has opened the regulatory incubation programme for fintech firms operating or seeking to operate in the Nigerian Capital Market.

This was contained in a circular issued by the commission.

According to the circular, the portal would be open till May 26, 2023, and registered capital market operators, as well as unregistered fintech innovators that required regulation, were encouraged to apply.

The SEC said the move to open a portal came from a 2021 circular where the commission announced the imminent roll-out of the SEC Regulatory Incubation program.

The Commission said, “Please refer to the Securities and Exchange Commission circular of June 2021 announcing its Regulatory Incubation programme for fintech firms operating or seeking to operate in the Nigerian capital market.

“This is to inform you that the portal for submitting applications is now ready to receive applications from Cohort 001/23, from 28/04/2023 to 26/05/2023. Cohorts will be announced at specific times.”

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