Economy
SEC begins full e-registration for capital market services
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The Securities and Exchange Commission (SEC) has commenced the implementation of a fully electronic registration process for capital market operators as part of efforts to modernise Nigeria’s capital market and improve regulatory efficiency.
The Commission, in a statement issued on Wednesday, said the electronic registration (e-Registration) platform, deployed through its ePortal, would enable designated regulatory services to be completed entirely online.
According to the SEC, the platform allows Capital Market Operators (CMOs) to complete approved registration processes digitally, including application submission, regulatory review, approvals and communication of decisions.
It said the initiative would eliminate manual processing for services covered in the current phase, while simplifying regulatory interactions, reducing administrative bottlenecks, shortening processing timelines and giving applicants improved visibility into the status of their applications.
The Commission explained that migrating to a fully digital registration system would enhance operational efficiency and strengthen regulatory oversight through standardised workflows, electronic documentation, secure digital record management and improved audit trails.
“The new platform represents a major step towards creating a seamless digital regulatory ecosystem that enhances operational efficiency while strengthening regulatory effectiveness,” the SEC said.
The regulator said the e-Registration platform aligns with its strategic objective of leveraging technology to improve market efficiency, enhance ease of doing business and deliver better services to stakeholders.
It added that the digital system would improve the integrity of regulatory processes by reducing delays associated with paper-based documentation and enhancing the quality of regulatory data available for decision-making.
The SEC noted that the platform would also provide a stronger foundation for regulatory analytics and future innovations aimed at improving oversight of the Nigerian capital market.
It said the implementation would be carried out in phases to ensure a smooth transition for market participants while maintaining the stability and integrity of regulatory processes.
The Commission clarified that the current phase covers post-registration services for existing Capital Market Operators, adding that applications for the registration of new entrants into the Nigerian capital market are not included yet.
According to the SEC, the commencement of electronic processing for new registration applications would be announced at a later date.
The Commission urged all Capital Market Operators to familiarise themselves with the new platform and comply with implementation timelines to ensure a seamless transition.
It reaffirmed its commitment to implementing reforms that promote innovation, improve regulatory service delivery, strengthen market infrastructure, enhance transparency and boost investor confidence in Nigeria’s capital market.
The United Kingdom has introduced new restrictions on a chemical commonly used in some gel nail polishes amid concerns over its potential impact on fertility and reproductive health.
The restriction targets trimethylbenzoyl diphenylphosphine oxide, commonly known as TPO, a photoinitiator that enables gel polish to harden when exposed to UV light and helps improve its durability and colour retention.
Under the new rules, which took effect on Saturday across England, Wales and Scotland, manufacturers are no longer permitted to place new TPO-containing cosmetic products on the UK market.
However, beauty salons have been given until February 14, 2027, to stop using existing products containing the chemical, meaning customers could still encounter TPO-based gel polishes during the transition period.
The move follows concerns arising from animal studies that have linked TPO exposure to possible reproductive and fertility problems. The European Union introduced a similar prohibition in September 2025.
The restrictions have nevertheless attracted debate within the cosmetics industry. The Cosmetic, Toiletry and Perfumery Association has maintained that the concentration of TPO used in nail products is significantly lower than levels associated with harmful effects.
The UK decision is therefore expected to intensify discussions within the beauty industry over whether precautionary restrictions should take priority where potential reproductive risks remain under investigation.
Investors in the Nigerian stock market recorded a cumulative loss of N5.45 trillion as the equities market extended its bearish run to an eighth consecutive session at the close of trading session on Thursday night, August 20..
Equities listed on the Nigerian Exchange Limited, NGX, have continued to experience significant declines since Tuesday, August 11, 2026 but last week, investors on the NGX lost N3.8 trillion in four consecutive bearish sessions.
From Monday to Thursday this week, stocks on the NGX have lost a total of N1.65 trillion meaning that the combined losses recorded over the last eight trading sessions amounted to N5.45 trillion, wiping out previous gains in the market.
The market extended its bearish run on Thursday as investors lost N440 billion, driven by continued profit-taking in large- and mid-cap stocks.
Market capitalisation declined by 0.30 per cent, or N440 billion, from N155.417 trillion at the opening of trading to N154.977 trillion at the close.
The Naira yesterday depreciated to N1,405 per dollar in the parallel market from N1,400 per dollar on Wednesday.
But the naira appreciated to N1,347.5 per dollar in the Nigerian Foreign Exchange Market, NFEM.
Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira fell to N1,347.5 per dollar from N1,351 per dollar on Wednesday, indicating N3.5 appreciation for the naira.
Consequently, the margin between the parallel and official markets widened to N57.5 per dollar from N49 per dollar on Wednesday.
The interbank turnover at NFEM rose by 0.22 percent to N371.8 million yesterday from N370.98 million the previous day.
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