The Securities and Exchange Commission (SEC) of Nigeria announced plans to eradicate Ponzi schemes and enhance legitimate investment opportunities by 2025.
Battling Financial Schemes
SEC Director-General, Dr. Emomotimi Agama, outlined plans to enhance investor protection and eliminate Ponzi schemes by 2025. The commission aims to make investor protection a cornerstone of its mission, ensuring market integrity and economic growth.
Strengthening the Commodities Market
This year, the SEC will focus on developing Nigeria's commodities market by leveraging the country's agrarian economy. The commission plans to strengthen the legal and regulatory framework to create a vibrant commodities ecosystem.
Approach to Cryptocurrencies
SEC is engaging with local crypto companies, showing willingness to collaborate given they meet regulatory requirements. Not all companies may receive final approval as applications are still under review.
Nigeria's SEC is dedicated to building trust in the investment landscape by developing both the commodities and cryptocurrencies markets to be more inclusive.
