SEC Reminds CMOs To Renew Registration By January 31, 2025

The Securities and Exchange Commission (SEC) has issued a reminder to Capital Market Operators (CMOs) to complete their annual registration renewal by January 31, 2025.

This directive, outlined in a recent circular, mandates operators to begin the renewal process from January 1, 2025.

According to the SEC, the annual renewal ensures that only qualified and proper individuals or entities are permitted to operate in Nigeria’s capital market.

The circular states: “All CMOs applying for renewal are required to include their 2025 annual subscription receipt from their respective trade groups as part of their application. Renewal applications must be completed via the registration portal at www.eportal.sec.gov.ng.”

The commission further stressed that CMOs failing to renew their registration within the stipulated period would face penalties and risk exclusion from participating in capital market activities.

In 2021, the SEC reintroduced the periodic renewal of registrations to maintain a reliable database of registered and active CMOs. This initiative aims to provide updated information for local and international investors, regulatory agencies, and the public, ensuring transparency and bolstering confidence in the market.

The renewal requirement is also part of the SEC’s efforts to minimise unethical practices, enhance investor trust, and improve the supervision and monitoring of CMOs. By mandating electronic registration renewal, the commission seeks to streamline the process and promote efficiency in the Nigerian capital market.