The Securities and Exchange Commission, SEC, says it roll out regulations to guide the fintech space in the country in 2025.
A notice by the Director-General of SEC, Dr Emomotimi Agama, in Abuja on Monday, said the commission was committed to ensuring transparency and integrity in the regulation of the space.
Mr Agama said that SEC had provided a level playing field to all applicants in the fintech space.
According to him, we are trying to ensure that at the end of the day, as a country we will stand out in the regulation of this space.
”In the coming year, we will move faster in delivery and announcements having learnt from this process.
”A new law has been passed and is in the process of obtaining the Presidential assent.
”That law is replete with all of the ingredients legally required to properly regulate this space and give guidance to operators.
”All of these are efforts by SEC to be as friendly as possible, protect the interest of the ecosystem and the interest of investors.
”Beyond any doubt, this space is the future and for us as Nigerians and we have embraced it,” he said.
Mr Agama said the process of registration in the space was very technical, noting that registration was the hallmark of regulation.
He said the process requires monitoring, education, surveillance which were continuous.
”This journey is a new one that we have not gone through before.
”As we continue, we will find challenges which we need to solve because every challenge is solvable,” he said.
