The Director General of the Securities and Exchange Commission, Dr. Emomotimi Agama has stated that smart regulation is a catalyst for inclusive growth that promotes transparency, protects investors, and ensures financial stability in a rapidly evolving ecosystem.
Dr. Agama stated this while delivering a keynote address at the FintechNGR Conference with the theme “Positioning Africa’s Fintech Ecosystem to Accelerate Inclusive Growth” held in Lagos Tuesday.
Smart regulation is a regulatory approach that balances oversight with flexibility. It ensures that fintech innovations meet the necessary standards of security, consumer protection, and market integrity while still providing room for experimentation and growth.
Agama said the SEC has adopted a Regulatory Incubation (RI) Programme, which allows fintech firms to test their business models in a controlled environment before full-scale operations.
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This he said, enables innovation to flourish within a framework that protects the broader financial ecosystem. The Programme has already yielded tangible results, with our recent approvals while others are in the pipeline and undergoing thorough assessment.
“The Commission has adopted a three-pronged approach to regulate innovation in the Nigerian Capital Market, focusing on safety, market expansion, and problem-solving. This forward-thinking strategy ensures regulatory compliance, stakeholder confidence, and value creation for innovators seeking legitimacy.
Furthermore, Agama said the Commision has prioritised collaboration with other regulators, both locally and internationally.
“By working closely with the Central Bank of Nigeria, the Financial Services Regulatory Coordinating Committee, and international bodies like the International Organization of Securities Commissions (IOSCO), we are creating a harmonised regulatory environment that encourages fintechinnovations”, he explained.
He said Fintech, particularly in Africa, offers transformative potential to address long-standing challenges such as financial exclusion, limited access to credit, and the inefficiencies of traditional financial services.
