The Securities and Exchange Commission has issued a warning to capital market operators who do not renew their registration by January 31, 2025, may face penalties and exclusion from market activities.
In a circular released by the Commission, CMOs are reminded to initiate the annual renewal process from January 1 to January 31, 2025.
As part of the renewal application, CMOs must provide their 2025 annual subscription receipt from their trade groups, according to SEC.
It is mandatory for CMOs to complete the renewal process through the electronic portal, and those without valid registration will be penalized, the Commission emphasized.
SEC implemented periodic registration renewal in 2021 to maintain an up-to-date database of active operators and prevent unethical practices in the Nigerian capital market. The initiative aims to enhance investor confidence, market integrity, and regulatory oversight.
The Commission required all capital market operators to adopt an enterprise risk management framework in line with globally accepted standards.