The Director General of the Securities and Exchange Commission, Emomotimi Agama, has emphasised that the deployment of blockchain technology will improve efficiency and aid the regulation of the capital market.
Agama stated this during a session with a delegation from Algorand Foundation at the commission’s headquarters in Abuja.
He said in Africa, where there are significant issues such as financial exclusion, lack of transparency, and inefficiencies in public and private sectors, blockchain presents an opportunity to build a future where the challenges can be addressed as blockchain is a digital ledger technology that securely records and verifies transactions across a network of computers.
The SEC DG said the commission is consistently aligning with international best practices by collaborating with global regulatory bodies such as the International Organisation of Securities Commissions (IOSCO).
He added that this ensures that the commission’s regulatory framework remains robust, adaptive, and aligns with global standards, enabling cross-border collaboration and fostering investor confidence.
He said: “We want to activate blockchain for our efficiency; we want to be able to use it to regulate our market. My dream is to have all of the information we need to do our work in a block chain.”
