Who
We Regulate

At the Nigerian Securities and Exchange Commission (SEC), our mission is to foster a vibrant and secure capital market by regulating a diverse range of entities. We work tirelessly to ensure the integrity, transparency, and fairness of the market for the benefit of investors and the Nigerian economy.

Entities We Regulate

1. Securities/Commodity Exchanges/Capital Trade Points

We oversee the operations of securities and commodity exchanges, as well as capital trade points, ensuring they adhere to best practices and maintain market integrity.

2. Futures, Options, and Derivatives Exchanges

Our regulatory oversight extends to futures, options, and derivatives exchanges, where we enforce rules and regulations to safeguard market stability.

3. Depository, Clearing, and Settlement Agencies

We closely monitor depository, clearing, and settlement agencies, ensuring the efficient and secure transfer of securities and funds.

4. Capital Market Operators

Our oversight encompasses a wide spectrum of capital market operators, including Auditor, Broker, Broker/Dealer, Central System Depository, Corporate Investment Advisers, Corporate Sub-Broker, Credit Rating Agency, Custodian, Dealer, Estate Surveyors/Valuers, Floor Broker, Floor Trader, FMDQ OTC Dealer, Fund Manager, Fund/Portfolio Manager, Individual Sub-Broker, Inter-Dealer Broker, Investment Advisers, Issuing House, Market Maker, Over-the-Counter Exchange, Portfolio Manager, Property Manager, Private Equity Fund Manager, Rating Agency, Receiving Banker, Registrars, Reporting Accountants, Securities Lending Agent, Self-Regulatory Organizations, Solicitors, Sub-Broker, Trustees, Underwriters, Venture Capital Manager.

5. Securities

We regulate various types of securities, including Equities, Debentures, Debt Instruments, and Collective Investment Schemes, ensuring transparency and investor protection.

Our Regulatory Activities

1. Registration of Securities and Market Intermediaries

SEC Nigeria registers securities and market intermediaries to guarantee their fitness and suitability to operate in the capital market.

2. Inspection

Through both on-site and off-site inspections, we maintain market integrity and scrutinize market participants to ensure compliance with regulations.

3. Vigilant Surveillance

Our vigilant surveillance prevents market rule violations and manipulations, safeguarding the interests of investors.

4. Investigation and Enforcement

In cases of alleged market law breaches, we conduct thorough investigations and enforce sanctions to maintain market discipline.

5. Rule-making

We continuously develop and implement rules to align with international best practices, fostering a competitive and secure capital market environment.

Our Varied Oversight

1. Securities Issuers

We oversee securities offered to the public, ensuring full disclosure and transparency in offerings, including public offers, rights issues, private placements, bonus issues, and existing securities.

2. Market Intermediaries

SEC monitors various market participants, including securities exchanges, clearing agencies, and capital market operators, ensuring compliance with regulations.

3. Business Combinations

We oversee transactions involving private companies with foreign interest, ensuring they adhere to regulatory requirements.

4. Mergers & Acquisitions

SEC reviews and processes applications for acquisitions, takeovers, and management buyouts, guaranteeing compliance with regulations.

5. Investment Schemes

We review and authorize various investment schemes, including unit trust schemes, real estate investment schemes, private equity, venture capital funds, and specialized schemes offered to the public.

6. Market Operators

Our Registration and Exchanges Department registers market operators and regulates stock, commodity, futures, and options exchanges.

7. Financial Institutions

Our Investment Management Department safeguards investor interests in various financial products.

8. Investors

We do our best to foster financial inclusion and investor education, ensuring all segments of the population are well-informed about the capital market.

9. New Products

The commission identifies and promotes the development of innovative financial products and processes in the securities market.

Our Primary Regulatory Departments and Their Regulatory Duties

1. Monitoring Department

• Responsible for identifying, assessing, and monitoring the operations and risks of registered operators.
• Ensures market operators maintain healthy financial states.
• Ensures compliance with laws, rules, and regulations.
• Ensures compliance with the Anti-money laundering prohibition Act (2004).

2. Enforcement Department

• Ensures compliance with regulations and imposes sanctions for infractions.
• Investigates unresolved complaints and protects investors.
• Conducts on-site inspections and resolves disputes involving Capital Market Operators (CMOs) and investors.

At SEC Nigeria, our commitment to regulatory excellence is unwavering. We continue to evolve and adapt to the dynamic landscape of the capital market, working diligently to maintain trust, transparency, and investor confidence. Together, we build a brighter financial future for Nigeria.