Securities and Exchange Commission (SEC) Director-General Dr. Emomotimi Agama said the commission is adopting blockchain technology to increase trust and transparency in capital markets.
Agama made this known at the annual conference of the Nigerian Association of Capital Market Correspondents held in Lagos on Saturday, represented by Mr. John Achille, Head of Legal and Enforcement, Lagos Regional Office.
Speaking on the theme, “Bank Recapitalization: Bridging the Gap with Issues in the Nigerian Capital Market and Investors,” he said the adoption of blockchain technology will ensure trust.
“Leveraging innovation for inclusive growth is key to bridging the gap between issuers and investors,” he said. Digital platforms have enhanced market access, allowing retail investors in remote locations to participate in recapitalization exercises.
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The SEC is exploring the integration of blockchain technology for secure and transparent transaction processing, a step that will redefine trust in the market. ”
According to SEC DG, the oversubscription of most recapitalization offers in 2024 is a sign of strong investor confidence.
“To maintain this momentum, the SEC is increasing its efforts to strengthen disclosure standards and corporate governance practices, expanding its financial literacy campaign and collaborating with fintech companies,” Achille said, quoting the Secretary. democratizes access to capital markets by providing low-cost investment options.
“The SEC remains steadfast in its mission to create an enabling environment for seamless and transparent capital formation. Our efforts provide clear guidelines for issuers and engage with all market stakeholders. regulatory oversight to maintain open lines of communication, reduce bureaucratic bottlenecks through digitization, ensure timely review and approval of applications, and protect investors while promoting market integrity. We are focused on strengthening.”
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