SEC Reassures Investors Amidst Fintech Revolution
By Patience Ikpeme
The Securities and Exchange Commission (SEC) has reiterated its commitment to protecting investors, particularly in the face of the rapid growth of fintech and digital financial services.
Speaking at a capacity-building workshop for financial journalists, Hasfat Rufai, Director of Registration, Exchanges, and Market Infrastructure Department at the SEC, emphasized the importance of adapting to the evolving investment landscape.
She acknowledged the opportunities presented by digital platforms, global markets, and emerging technologies like cryptocurrencies and fintech, but also acknowledged the associated risks.
Rufai stressed the need for investors to remain vigilant and make informed decisions. She encouraged investors to seek knowledge, stay updated on market trends, and exercise caution when considering new investment opportunities.
Dr. Abdulraham Abubakar, in his presentation on commodities markets, discussed the role of fintech in standardizing and improving access to these markets. He noted how fintech solutions have facilitated electronic connections between storage facilities and exchanges, making it easier for investors to participate.
The SEC has been actively working to strengthen its regulatory framework to keep pace with the changing market dynamics. The Commission’s engagement with the Toronto Center aims to enhance its risk-based supervision capabilities, ensuring the safety and soundness of the Nigerian capital market.
By prioritizing investor protection and promoting financial literacy, the SEC seeks to empower investors and foster a thriving capital market in Nigeria.
