By Abubakar Yunusa
The Securities and Exchange Commission has launched its first-ever Regulator/FinTech Clinic to close regulatory gaps and deepen engagement with Nigeria’s fast-growing financial technology sector.
The initiative, unveiled in Abuja on Tuesday, is aimed at aligning financial innovation with regulatory compliance while strengthening investor protection in the country’s capital market.
Director-General of the commission, Emomotimi Agama, said the platform would encourage dialogue between regulators and operators in the FinTech ecosystem.
He said the engagement reflected the commission’s determination to ensure innovation thrives within a safe and transparent regulatory environment.
“This engagement reflects a deliberate step by the Commission to deepen dialogue between the regulator and the FinTech sector,” Agama said.
According to him, Nigeria has emerged as a leading hub for financial innovation in Africa, with FinTech firms expanding financial access and creating new investment opportunities for citizens.
Agama, however, warned that regulatory frameworks must evolve alongside technological advances to safeguard investors and maintain market integrity.
“Responsible innovation requires regulatory frameworks that are both protective and adaptable. The clinic forms part of that continuous review process to ensure our rules remain proportionate, responsive and aligned with market realities,” he said.
He added that clarity, predictability and trust remained essential conditions for sustainable innovation in the financial sector.
The SEC boss noted that since 2018 the commission had taken several steps to support technological innovation in the capital market, including establishing a dedicated FinTech department and developing FinTech-focused regulations.
He also said the recently enacted Investments and Securities Act 2025 had strengthened the commission’s ability to regulate emerging digital financial products and platforms.
Agama said the clinic would provide clarity on the regulatory framework under the new law, engage FinTech operators on compliance issues and emphasise the importance of legitimacy in business operations.
“FinTech business models often evolve faster than regulatory frameworks. Early dialogue prevents costly missteps,” he said.
“Compliance embedded at the design stage is far more effective than corrective measures after market entry.”
In his keynote address, Executive Commissioner, Operations, Bola Ajomale, said digital assets were increasingly attracting the interest of young Nigerians.
He noted that while the sector holds strong potential for growth, it also presents emerging risks, including unregistered investment platforms.
Ajomale said the commission had already engaged more than 500 firms to understand their operations and products.
“We continue to ensure we protect investors, ensure fair and efficient markets and facilitate capital formation,” he said.
“That is why we are engaging the players to understand what they are bringing to the market and then set up a framework where we can regulate them.”
He added that the regulator remained committed to supporting innovation while ensuring that Nigeria’s capital market operates with transparency, accountability and investor confidence.
