The Director-General of the Securities and Exchange Commission, Timi Owoturo, has issued a compelling challenge to registrars operating within Nigeria's capital market, urging them to embrace innovation and enhance operational efficiency to strengthen the country's financial ecosystem.
During a recent engagement with capital market stakeholders, Owoturo emphasized the critical role registrars play in maintaining investor confidence and ensuring seamless market operations. He stressed that technological advancement and process optimization are no longer optional but essential requirements for market growth.
The Innovation Imperative
Owoturo highlighted several key areas where registrars must focus their transformation efforts:
- Digital Transformation: Implementing cutting-edge technology solutions to streamline registration processes and enhance service delivery
- Operational Excellence: Developing more efficient systems that reduce processing times and improve accuracy
- Investor Protection: Strengthening safeguards to maintain the integrity of the market and protect stakeholder interests
- Market Accessibility: Creating more user-friendly platforms that encourage broader participation in the capital market
Building a Robust Financial Ecosystem
The SEC boss emphasized that registrars serve as fundamental pillars supporting Nigeria's capital market infrastructure. Their ability to adapt to changing technological landscapes directly impacts the market's competitiveness and attractiveness to both domestic and international investors.
"The efficiency of our registrars determines the efficiency of our entire market system," Owoturo stated. "We cannot talk about market development without addressing the core operational capabilities of these critical institutions."
Future Outlook
This call to action comes at a pivotal moment for Nigeria's financial sector, as the country seeks to position itself as a leading investment destination in Africa. The SEC's push for innovation among registrars aligns with broader national efforts to modernize financial services and embrace digital economic transformation.
Market analysts view this directive as a positive step toward addressing longstanding operational challenges and creating a more dynamic, responsive capital market that can effectively serve Nigeria's growing economy and investor community.
