The Securities and Exchange Commission (SEC) has reiterated its zero tolerance for fraudulent activities in Nigeria’s capital market, warning that unscrupulous operators will face severe regulatory actions.
SEC Director-General, Emomotimi Agama, made this known in an interview over the weekend, emphasizing that the Commission will intensify its crackdown on non-compliant operators through license revocations, suspensions, and stricter enforcement measures.
“And so what you have been seeing most recently by the revocation of licenses, by the suspension of operators, and, of course, by our follow-up to operators that are not registered with the SEC is only a tip of the iceberg as to what we intend to do in the year 2025.
“We believe strongly that a protected investor is a powerful investor. And we will do everything within the powers of the SEC and the Nigerian law to make sure that we deter unscrupulous persons who are involved in trying to defraud Nigerian investors,” Agama stated.
He stressed that only individuals who meet the ethical and regulatory requirements outlined in the Investments and Securities Act (ISA) 2007 would be allowed to operate in the market.
