The Securities and Exchange Commission revealed its interest in utilizing blockchain technology to improve trust and transparency within the capital market. The Director-General of the SEC, Dr Emomotimi Agama, discussed this during a conference in Lagos. He highlighted that blockchain technology could enhance trust by securely storing records across a decentralized digital ledger network. Agama emphasized the importance of innovation for inclusive growth in connecting issuers and investors. The SEC aims to integrate blockchain for secure and transparent transactions to redefine trust in the market. The SEC is focused on enhancing disclosure standards, promoting financial literacy, and collaborating with fintech companies to broaden access to the capital market. The SEC’s efforts are geared towards creating a conducive environment for transparent capital formation through clear guidelines, digitalization, timely application reviews, and regulatory oversight to safeguard investors and market integrity. The utilization of technology is seen as a solution to overcome market challenges, foster financial inclusion, and boost market liquidity. The SEC is also exploring innovative financial products like green bonds and sukuk to attract a diverse investor base, emphasizing the importance of collaboration among regulators, issuers, and investors for successful capital market initiatives.
SEC explores blockchain technology to enhance trust, transparency in capital market
