The Securities and Exchange Commission (SEC) has emphasised the importance of maintaining a robust compliance culture in Nigeria’s financial sector.
Dr. Emomotimi Agama, Director General of the SEC, made this call at the Nigerian Capital Market Institute Compliance Summit, stressing that the country’s recent exit from the Financial Action Task Force (FATF) Grey List is just the beginning of a new era of sustained compliance.
The SEC boss noted that Nigeria’s removal from the grey list is a significant achievement, but it should not lead to complacency.
Instead, he stressed that stakeholders must work together to ensure that the country’s financial system remains transparent, trustworthy, and compliant with global standards.
“A compliant market is a transparent market, and a trustworthy market is the destination for capital,” Agama said.
The summit highlighted the need for continuous improvement in compliance practices, including the adoption of RegTech and SupTech solutions, regular training of compliance officers, and promotion of ethical conduct across the financial services ecosystem.
The SEC assured stakeholders that it would provide strong regulatory guidance and support to help Nigeria maintain its compliance with global standards.
In her remarks, Frana Chukwuogor, Executive Commissioner, Legal and Enforcement at the SEC, underscored the importance of compliance officers and market operators being aware of changes in regulation, particularly with the new Investment and Securities Act 2025.
She warned that failure to comply with the new regulations could result in sanctions, and encouraged operators to file returns as required.
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